In June 2018 I was pleased to launch the audiovisual action plan, an industry-wide long-term plan under the Creative Ireland programme, to support the Government's ambition to enable Ireland to become a global hub for the production of film, television drama and animation. The audiovisual high level steering group was established to implement the plan. It is a whole-of-Government approach, with representatives from all Departments and State agencies that have an involvement in the audiovisual industry. The group is overseeing implementation of the plan and will report regularly to me as Minister.
As the Deputy is aware, the plan deals in detail with the mechanisms used by the Government to support the Irish audiovisual industry. This support is delivered using parallel mechanisms of tax relief and direct funding. The section 481 film tax relief mirrors similar provisions in most other countries and attracts internationally mobile film projects to Ireland. It also encourages valuable co-productions, with international producers partnering with indigenous producers who benefit from the sharing of cutting-edge technology and expertise.
Screen Ireland is the national development agency for the Irish film, television and animation industry, supporting writers, directors and production companies by providing investment loans for the development, production and distribution of film, television and animation projects. In budget 2019, I was able to allocate an additional €2 million to Screen Ireland to build on its vital work, increasing its annual budget by 11% overall to €20 million.
Relief under section 481 may be claimed against a producer company’s corporation tax liabilities if certain conditions are satisfied. Under the film regulations 2019, a new skills development requirement is now linked to the section 481 tax credit and producer companies are obliged to submit a skills development plan. For projects over €2 million, this must be agreed in advance with Screen Ireland. It is also a requirement that a post-project skills development report be submitted. A special briefing with my Department and Revenue took place this morning at which this requirement was highlighted to industry stakeholders. I believe all of the measures outlined above will greatly enhance the delivery of quality employment and training in the industry.