My Department has detailed procedures that are kept under review for the examination of applications for certification under section 481 of the Taxes Consolidation Act, 1997, formerly section 35.
Full particulars of the financial, employment and legal composition of each project seeking certification are required, including detailed production budgets. These are scrutinised by my Department, which obtains professional advice where necessary.
Before a decision is taken to issue a certificate my Department seeks to be satisfied that each budget is reasonable in relation to the film project in question.
On completion of each project a detailed compliance report and audited accounts of the project must be submitted to my Department to enable it to inform the Revenue Commissioners as to whether the conditions attaching to each certificate have been complied with. Failure to comply with these requirements may lead to withdrawal of tax relief but this is a matter for the Revenue Commissioners.
In regard to the question of conflict of interest in the Irish Film Board the Deputy will appreciate that this is an autonomous body operating under statute. I understand that the board has always had rigorous rules in this regard, that these rules have recently been updated and at all times have been deemed to be in compliance with Department of Finance requirements in this area.
