Monica Barnes
Question:88 Mrs. Barnes asked the Minister for Arts, Heritage, Gaeltacht and the Islands if responsibility for certifying section 481 rests with her Department; and the way in which the due date will be established. [6888/99]
Written Answers. - Film Industry Development.
I am the Minister responsible for the issue of certificates under section 481 of the Taxes Consolidation Act, 1997, to allow a project to be treated as a qualifying film for the purposes of the section. An application to be eligible for consideration must be submitted before the principal photography, the first drawings, or the first model movement have commenced as the case may be depending on whether the film is live action, documentary or animation. Subsection (2)(a)(ii) precludes certification in cases in which an application is submitted after the date of such commencement.
In regard to an investment raised under section 481, such a sum is eligible for tax relief only if it is used by the qualifying company within two years of the receipt of the sum for the purposes of enabling the qualifying company to produce the film in question.