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Audiovisual Federation Calls for Extension of S481 Tax Incentive
05 Sep 2017 :
The Ibec group that represents the sector, has published its submission for Budget 2018

Torlach Denihan, Director of Ibec's Audiovisual Federation said: "It is essential that the Minister for Finance confirms the extension of the Section 481 film tax incentive in its current form beyond 2020 in Budget 2018, in order to allow for film and television productions to plan accordingly. The industry now employs 7,000 people in Ireland, with a multiplier of 15,000 indirect jobs across the country. In 2016 alone the industry attracted €150 million in inward investment, firmly placing the audiovisual sector as a net positive contributor to the Irish economy.

"In order for this momentum to continue, and to capitalise on our recent successes, the following measures must be implemented in Budget 2018."

· Establish a ring fenced €5m annual development fund for all film and television genres, to be administered by the Irish Film Board.

· Adopt effective measures to combat television licence fee evasion, currently costing approximately €40m per annum in lost revenue.

· Establish an inter-agency taskforce on digital piracy in view of the Exchequer revenue evaded and the employment lost.

"These measures, if adopted, will help make Ireland a global leader in the audiovisual sector and will act as a catalyst to the work of the Government's 'Creative Ireland ' policy initiative."




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