Ireland extends film tax relief to 2020
- Irish Minister for Arts welcomes extension of Section 481
Minister Michael Noonan has confirmed in his budget speech that Section 481, the Irish Film Tax Relief Scheme, will be extended to 2020. The scheme will operate as a tax credit model from 2016.
Jimmy Deenihan (photo), Irish Minister for Arts and Heritage has welcomed the extension of Section 481. He said, “This is very good news. The extension of this scheme will give a great deal of certainty to the Irish audiovisual sector to the end of this decade. Moving to a tax credit model will be a significant change, but there is an extended lead in period to the new arrangements to enable the sector to adapt.”
“This year alone a number of significant productions are filming in Ireland including Vikings with an spend in Ireland of €25 million, and Ripper Street with a spend of almost €11 million. The extension of the scheme is important for Ireland, for both the jobs that are supported by this sector and our location as a place for film and audiovisual investment,” Deenihan added.
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