Dáil Éireann Debate, Wednesday - 19 November 2014
49. Deputy Thomas Pringle asked the Minister for Finance if the amendment to section 481 of the Taxes Consolidation Act specified in section 21 of the Finance Act 2013 removes the requirement for it to be necessary for an Irish based film production company to be involved in a qualifying project for relief; and if he will make a statement on the matter. [44424/14]
View answerSection 21 of the Finance Act 2013 introduced a change to the scheme for tax relief for investment in films whereby a producer company can claim a corporation tax credit for eligible expenditure rather than the current scheme which allows relief at the marginal rate of tax for individual investors.
It also introduced a new definition of 'producer company' (Section 21(1)(i)) which states that the production company must be either based in the State, or if based in an EEA state, must carry out its business through a branch or agency in the State.
In addition, the producer company must be registered for and making returns for corporation tax in the State (section 21(1)(i)(e) refers) before it can apply for a certificate for the film relief credit.
