Elliott said: “It was a good performance. Mark said he needed the whole length of the straight to get there – he wants three miles.“Obviously I’ll have to speak to Frank (Berry, owner’s racing manager) and JP, but I’d imagine the three-mile race in Leopardstown at Christmas would be the place to go with him now. He has no choice really now but to go for a Grade One.“He’s been a great little horse around the yard. The Stayers’ Hurdle would look the race for him long-term.”- Advertisement – Dual Cheltenham Festival hero Sire Du Berlais made a winning return to action in the Lismullen Hurdle at Navan.The JP McManus-owned eight-year-old has won the last two renewals of the Pertemps Final at the showpiece meeting in the Cotswolds for Gordon Elliott, but faced a step up in class and a drop in trip for this two-and-a-half-mile Grade Two.- Advertisement – Paddy Power cut Sire Du Berlais to 10-1 from 16-1 for the Stayers’ Hurdle at Cheltenham next March. The blinkered 9-2 chance was on the heels of the leaders rounding the home turn and responded to Mark Walsh’s urgings on the run-in to get up and beat long-time leader French Dynamite by half a length.Matthew Smith’s stable star Ronald Pump was the 9-4 favourite on his first start since filling the runner-up spot in the Stayers’ Hurdle at Cheltenham, and was not completely done with when crashing out at the final obstacle.Noel Meade’s Sixshooter finished third.- Advertisement – – Advertisement –
The lawmaker also questioned whether this reflected a “level playing field”.Wiebes pointed out that Belgium had a wider interpretation for VAT exemption for the management of a joint investment fund, with the dispensation being applicable to defined contribution (DC) and defined benefit pension funds.The Belgian statute book for VAT stipulates that all OFP pension vehicles are exempt from VAT, without distinction between pension plans.By contrast, in the Netherlands, only DC arrangements qualify for VAT exemption. Wiebes said it would be “undesirable” for Dutch pension funds to move to Belgium simply for VAT benefits.He added that he did not expect this to become a trend, as many Dutch pension funds were showing interest in joining the APF ‘general’ pension fund.The APF, which allows pension funds to co-operate within a single vehicle while ring-fencing assets, is scheduled to come into force from 1 January 2016.Wiebes said he would keep an eye on any developments in the market and brief the Dutch Parliament about a possible “follow-up” if he noticed “certain pension funds planning cross-border moves for VAT reasons”. The Dutch government has said it see no reason to ease value-added tax (VAT) rules for pension funds by equalising them with those found in Belgium.Responding to a query from Pieter Omtzigt, MP for the Christian Democrats (CDA), Eric Wiebes, state secretary for the Treasury, pointed out that the current Dutch rules matched European jurisprudence on VAT.He said the possibility of easing tax rules for pension funds was therefore “not up for discussion”.His comments come after Omtzigt noted that Dutch pension funds relocating to Belgium paid no VAT.