Tax breaks / incentives
Ireland's Section 481 filming incentive is worth up to 32% of qualifying local spend and will be available for producers through to at least 2024. The film fund is worth around €16.2m for 2019.
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 32% 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.
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.