Dáil Éireann Debate, Tuesday - 20 June 2017
284. Deputy Maurice Quinlivan asked the Minister for Finance the number of companies that availed of the film relief tax credit in 2015, 2016 and to date in 2017; and the amount this tax relief cost the State in each of these years. [27803/17]
Amharc ar fhreagraI am advised by Revenue that prior to 2015, the Film Relief scheme, provided for by Section 481 Taxes Consolidation Act (TCA) 1997, operated by giving relief to individuals and companies investing in the film industry. The information in respect of the tax cost and number of investors who claimed relief under section 481 for the years 2004 to 2014 is available on the Revenue Commissioners webpage at http://www.revenue.ie/en/corporate/information-about-revenue/statistics/tax-expenditures/costs-expenditures.aspx.
With effect from 2015, the scheme provides direct support to film producer companies in the form of a tax credit. However, where an application was received up to and including 14 December 2014, it was processed under the previous scheme. Investors availing of the old scheme can choose the year in which to claim their relief. The provisional number of claimants of the tax credit in 2015 is 1,102 with a cost to the Exchequer of €69.7 million.
The following numbers of companies were granted relief during 2015, 2016 and 2017:
- 2015: 32 companies in respect of 43 films
- 2016: 54 companies in respect of 74 films
- 2017: 15 companies in respect of 21 films (to end Quarter 1 2017).
The information relating to the beneficiaries under the current scheme can be found at:
- 2015 beneficiaries: http://www.revenue.ie/en/companies-and-charities/documents/beneficiaries-tax-relief-2015.pdf.
- 2016 beneficiaries: http://www.revenue.ie/en/companies-and-charities/documents/beneficiaries-tax-relief-2016.pdf.
- 2017 (to Quarter 1) beneficiaries: http://www.revenue.ie/en/companies-and-charities/documents/beneficiaries-tax-relief-2017.pdf.
