Film Tax Incentive - Section 481

 

From the 1st January 2015, Ireland’s tax incentive has been significantly increased and is now worth 32% of eligible Irish expenditure.

 

The tax credit has a per project cap of 32% of the lower of:

• Eligible expenditure

• 80% of the total cost of production

• €50 million

 

Eligible expenditure is now based on the cost of all cast and crew working in Ireland.

 

An application for a certificate entitling the applicant to the tax credit can be submitted at any time prior to the completion of the project.

 

The incentive applies to feature film, TV drama (singles and series), animation and creative documentary.

 

To find out more, please visit  Irish Revenue Website or for further assistance please contact us here at Ardmore Studios

 

What is the "Section 481" benefit worth?

 

The applicant producer company can claim a payable tax credit of up to 32% of "eligible expenditure".

 

What is eligible expenditure?

 

The payable tax credit is based on the cost of ALL cast & crew working in Ireland, regardless of nationality, as well as goods, services & facilities purchased in Ireland.

 

Is withholding tax applied to international cast & crew working in Ireland?

 

Film Withholding Tax (FWT), at a rate of 20%, applies to payments made to Actors (including voice-over artists) for artistic services rendered to the "Qualifying Company", but only if the Actor in question is tax-resident outside the EU and EEA. More information about FWT is available at www.revenue.ieor by contacting the FWT Unit at fwtunit@revenue.ie.

 

Is there a minimum spend level?

 

Projects are excluded from the incentive if their "eligible expenditure" is less than €125,000, or the total cost of production is less than €250,000. 

 

 

Irish Revenue Film relief: http://www.revenue.ie/en/tax/ct/film-relief.html

 

For more information on Section 481 please contact us directly.