Amendments to tax provisions, such as the section 481 scheme for relief for investment in film production, are matters for the annual budget and Finance Bill and it is not my practice to comment on any possible future amendments to the tax code outside of that context. However, as evidenced by the announcements I made in budget 2006 last week, I intend to keep various incentive provisions of the tax code under review to ensure that tax incentive schemes are effective in achieving their objectives, in balance with the principles of efficiency and overall tax equity. This approach applies equally to the section 481 scheme.
In budget 2004, my predecessor announced an extension of the tax relief for film production for a further period of four years from 31 December 2004 to 31 December 2008, and an increase in the ceiling per film to €15 million from 2005.