Tax breaks / incentives
As of January 2015, Ireland's film and TV tax credits have risen from 28% to 32%. And from 1st of May 2016 the expenditure per project which can be supported by the Film Tax Credit increased to €70 million.
Below some more information on the changes and their implications:
Section 481 - The Irish Tax Incentive for Film and Television
What is Section 481?
Section 481 is a tax incentive for film and television made in Ireland.
What type of projects qualify?
The incentive applies to Feature Film, Television Drama, Animation (feature film and television) and Creative Documentary.
How much is the Section 481 benefit worth?
Projects can derive a benefit of up to 28% of their qualifying expenditure.
What constitutes qualifying expenditure?
The benefit is based on the cost of both EU and non-EU cast and crew working in Ireland, and goods and services purchased in Ireland, up to a maximum value of 80% of the global budget.
When is it paid?
The Section 481 net benefit is made available to the production on the first day of principal photography or on the financial closing of the film. The incentive is guaranteed until December 2015.
Is there a cap on the amount of Section 481 that can be raised?
Yes, there is a ceiling of 250m on qualifying expenditure per project.
How does it works from the foreign producer point of view?
The foreign producer must team up with a local Irish co-producer. The Irish co-producer applies to the Irish Revenue Commissioners for a Section 481 certificate. The issuance of this certificate allows the Section 481 finance to be raised. The certificate will stipulate various conditions such as: the maximum amount of Section 481 finance which can be raised, the identity of crew, the number of trainees, etc. The Irish co-producer is responsible for compliance with all the conditions of the certificate.
The Irish co-producer provides the full range of production services including locations scouting, scheduling, budgeting, casting, crewing and takes full responsibility for all production services carried out in the State throughout the life-span of the production.
Other Sources of Finance
- Irish Film Board
Ireland‘s national film agency supports Irish film-making from script to screen. Visit the Irish Film Board for more information about IFB production and development funding schemes.
- The Broadcasting Authority of Ireland
The Broadcasting Authority of Ireland (BAI) is an independent regulator for radio and television broadcasters in Ireland. The BAI Sound and Vision Fund supports high quality programmes on Irish culture, heritage and experience, and programmes to improve adult literacy.
RTÉ is Ireland’s national public service broadcaster.
TV3 is Ireland’s commercial television broadcaster.
Ireland’s competitive tax incentive, experienced talent base, and distinctive yet adaptable landscapes make Ireland a unique and valuable co-production partner. Ireland has co-produced with almost every European territory, as well as Canada and Australia. Ireland is a party to the European Convention on Cinematographic Co-production which enables co-production of feature films amongst members of the EU and some EEA states. Ireland also has bi-lateral co-production agreements with Canada, Australia, New Zealand and Luxembourg.