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Irish Audiovisual Sector Calls For Tax Break Extension

by Jason Gorringe, Tax-News.com, London

04 September 2017


Ireland's Audiovisual Federation has called on the Government to extend the film tax incentive beyond 2020, when it is due to expire.

Launching the industry group's pre-Budget submission, Director Torlach Denihan 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 EUR150m (USD178.2m) in inward investment, firmly placing the audiovisual sector as a net positive contributor to the Irish economy."

Under the Section 481 relief, production companies can claim a payable tax credit of up to 32 percent on eligible expenditure. The payable tax credit is based on the cost of all cast and crew working in Ireland, as well as goods, services, and facilities purchased in Ireland.

TAGS: tax | investment | Ireland | tax incentives | tax credits | tax breaks | trade association | trade

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