The Irish industry is preparing itself to embrace the new Tax Credit Initiative for Film due to be introduced in 2015.
The initiative was explained in detail at a recent event presented by the Revenue Commissioners, and hosted by the Irish Film Board.
Last year the Irish government announced an improvement to the Irish financial incentive for the film, television and animation industry (Section 481), which is intended to boost employment and create new jobs within the sector. Bringing Ireland in line with the UK, the new measures will mean that Section 481 will apply to non-EU as well as EU talent working in Ireland.
The enhancement of the Irish tax incentive for the film and television industry demonstrates the continued commitment of the Irish government to the future of the Irish film, television and animation sectors and Ireland's creative industries. Earlier in 2013, the Irish government extended the Section 481 scheme to 2020 and increased its value to 32% as of 2016. This improvement and the change announced in the 2014 budget has now been brought forward to 2015.
For more information on the new incentive and for any queries, please contact s.481relief@revenue.ie.
The powerpoint presentations can be downloaded on the Irish Film Board Website here.
