Dáil Éireann Debate, Thursday - 28 January 2016
98. Deputy Michael McGrath asked the Minister for Finance the number of applications for section 481 relief; the amount of tax relief granted and the number of film projects supported in each of the years 2011 to 2015; if he is satisfied with the operation of the scheme; and if he will make a statement on the matter. [3711/16]
View answerI am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' Statistics webpage at: http://www.revenue.ie/en/about/statistics/index.html.
The Deputy will be aware that the Income Tax scheme for investment in Film was replaced in 2015 by a new scheme of Corporation Tax relief to Film Producer Companies. The new scheme has been in place since January 2015. The operation of the scheme is monitored by my Department and the Revenue Commissioners, and I believe the scheme is working correctly.
The following table sets out the information in relation to the Income Tax film relief scheme which closed for film applications in December 2014. The information for 2014 and 2015[1] is still provisional.
|
Year |
Cost €m |
No. of Investors |
No. of films supported |
|
2011 |
45.7 |
2,669 |
55 |
|
2012 |
58.5 |
3,372 |
57 |
|
2013 |
73.1 |
4,217 |
66 |
|
2014 |
72.6 |
4,092 |
61 |
|
2015 |
19.5 |
1,057 |
7 |
[1] In 2015 65 film projects were certified under the new Corporation Tax relief for film Producer Companies. Of these projects 43 claimed relief during 2015 with an associated cost to the Exchequer of €17.5 million.
