The Irish film industry has seen remarkable growth, thanks to the implementation of the section 481 tax relief scheme. This tax relief initiative has significantly benefited various productions, attracting both local and international filmmakers to choose Ireland as their filming destination. With data from the Revenue Commissioners revealing substantial payments made under this scheme, it is evident that the film and television production sector is flourishing.
Last year, several films and series enjoyed the advantages of the section 481 tax relief program. One notable production that received tax relief was the third season of the popular series “Valhalla,” streamed on Netflix. This spin-off, filmed in Wicklow County, served as an exciting continuation of the acclaimed series “Vikings.” On a smaller scale, the second season of “The Tourist,” featuring Jamie Dornan, also benefited from this scheme.
Additionally, the film adaptation of Claire Keegan’s bestselling novel, “Small Things Like These,” starring Cillian Murphy, stands out as another beneficiary. This heartwarming film, set in an Irish village during the Christmas of 1985, will capture audiences’ hearts when it premieres at the esteemed 74th Berlin Film Festival next month.
Moreover, numerous other productions have taken advantage of the section 481 tax relief in 2023. Films like “Borderline,” featuring the talented Jamie Dornan, as well as animations such as “Cat & Keet 2” and “Pierre the Pigeon Hawk” by Telegael Teoranta, “Eva the Owlet” and “Lu & the Bally Bunch” from renowned Brown Bag Films, and “Bad Sisters” produced by Sharon Horgan have all reaped the benefits of this tax relief measure.
This tax relief program has attracted foreign investments and fostered the growth of the Irish film industry. By providing financial incentives, the section 481 tax relief has enticed filmmakers from around the world to choose Ireland as their preferred filming location. The resulting economic growth has contributed to the country’s cultural promotion on the international stage while also providing employment opportunities for local talents.
FAQ:
1. What are the benefits of section 481 tax relief in Ireland?
Ireland’s section 481 tax relief scheme attracts foreign film and television productions and contributes to the development of the domestic film industry. This tax relief fosters increased interest and investment in the sector, leading to economic growth and the promotion of Irish culture on the global stage.
2. Which films received tax relief last year?
Last year, productions such as the third season of “Valhalla,” the second season of “The Tourist,” and the film adaptation of “Small Things Like These” received tax relief under the section 481 scheme. Other films that benefited from this relief include “Borderline,” “Cat & Keet 2,” “Pierre the Pigeon Hawk,” “Eva the Owlet,” “Lu & the Bally Bunch,” and “Bad Sisters.”
3. What are the limits of section 481 tax relief?
The government expanded the section 481 tax relief program in October of last year. The tax credit limit for qualifying expenses now stands at €125 million.
4. When is the premiere of the film “Small Things Like These”?
The film “Small Things Like These” will premiere at the 74th Berlin Film Festival next month.
Definitions:
– Section 481 tax relief: A scheme providing corporate tax relief in the Irish film and television production sector.
Links:
– Valhalla: Netflix
– Lu & the Bally Bunch: Brown Bag Films
– Section 481 tax relief program: Revenue Commissioners
The source of the article is from the blog elektrischnederland.nl