THE IRISH FILM tax credit scheme will go ahead in 2015, and there are hopes to increase the €50 million cap in 2016.
The Minister for Finance Michael Noonan said that the film industry is “very important to modern Irish culture and to the economy not just in terms of jobs but indirectly through tourism promotion”.
“The new Irish film tax credit scheme is due to commence in 2015 and I am very pleased that it has been broadly welcomed by the film industry,” said Noonan.
Last year the Irish government announced Section 481, a financial incentive for the film, television and animation. It was intended to boost employment and create jobs in the sector.
He said that as the new scheme “beds down next year” he will monitor how it works and how it can be improved.
“One of the issues that I will consider in the context of Budget 2016 is a possible increase to the €50 million cap on eligible expenditure, subject of course to resource constraints,” he said.
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