Taxes Consolidation Act 1997 section 481

Relief for investment in films

Section 481 provides a payable corporation tax credit for film production expenditure incurred in the State by qualifying producer companies, subject to certification by the Minister for Culture.

• The film corporation tax credit is 32 per cent of the lowest of the eligible expenditure, 80 per cent of the total cost of production, or €125,000,000, and is given as a reduction in the producer company's corporation tax liability with any excess refunded by Revenue.
• An enhanced rate of 40 per cent applies to lower budget films (feature or animated films with qualifying expenditure below €20,000,000 and key creative roles filled by Irish or EEA nationals) and to visual effects projects (with at least €1,000,000 of eligible visual effects expenditure), though the enhanced visual effects rate is capped at the first €10,000,000 of qualifying expenditure.
• The relief requires a cultural certificate from the Minister, a dedicated qualifying company set up solely for the production of one film, and strict compliance with conditions including tax compliance, record-keeping, filing of a compliance report, and restrictions on financial arrangements with non-EU or non-treaty territories.
• Up to 90 per cent of the credit may be claimed in advance based on budgeted expenditure, with the balance claimed within six months of completion; the scheme applies to films certified up to 31 December 2028, and unauthorised payments may be recovered at a multiple of four times the unauthorised amount.