Dáil Éireann Debate, Tuesday - 13 February 2024
231. Deputy Cormac Devlin asked the Minister for Finance if State aid approval has been given for the Budget 2024 announcement of an increase to the cap on section 481 film tax credit; and if he will make a statement on the matter. [6253/24]
View answerAs part of Budget 2024 I announced the intention to increase the section 481 per project cap from €70 million to €125 million, subject to receipt of the necessary European Commission approval.
I believe the proposed increase to €125 million will strike an appropriate balance between providing a sufficient increase to attract big budget films, while also being mindful of the possible cost to the public finances if a number of such films were to come to Ireland.
An application for State aid approval was submitted to the European Commission in December and this process is currently ongoing.
