Dáil Éireann Debate, Tuesday - 28 April 2015
137. Deputy Seán Kyne asked the Minister for Finance if, following the amendments to section 481 concerning arrangements for film and television production, any examination on the impact of the changes has been carried out; if any reliefs extend to the development of film and television studios for the purposes of attracting new business into regional locations; and if he will make a statement on the matter. [16811/15]
Amharc ar fhreagraI am advised by the Revenue Commissioners that as the new scheme under Section 481 only came into operation on 12 January 2015 it is too early to say what impact the changes will have. Prior to 2015 the scheme operated by giving tax relief to individuals investing in the film industry. From 2015 the scheme provides direct support to film producer companies in the form of a tax credit.
In 2014 tax relief was granted in relation to 66 projects. To date in 2015 relief has been granted under the new scheme in relation to 4 projects. The relief relates to eligible expenditure as defined within Section 481, however there is no regional element to the legislation.
