Irish Film And Television Tax Incentive Worth Up To 28%
Major improvements to the Irish tax incentive for film and television, Section 481, have ensured that Ireland’s spend-based filming tax incentive is now worth up to 28% of qualifying expenditure in the country.
Section 481 has been improved in order to restore the competitiveness of Ireland as an international film and television location.
Section 481 is unique because film and television productions benefit from the financial incentive on the first day of principal photography or financial closing, which means that international producers shooting in Ireland require no bank discounting. It’s also important to note that Section 481 is not a transferable or refundable tax credit which can take months or years to pay out.
“Section 481”, the Irish tax incentive is available to feature film, television drama, documentaries and animated film and television productions with an Irish co-producer attached. Cast and crew fees for those with a European Union passport count as eligible spend for the work they carry out in Ireland, along with all goods and services purchased and used in Ireland. There is also a €50 million cap per project.
Ireland is a signatory to the European Convention on Cinematography and has bilateral co-production treaties with Canada, Australia and New Zealand.
For more information on Section 481 and details on Irish production companies visit our website www.irishfilmboard.ie or email locations@irishfilmboard.ie.