‘Inaccuracies’ lead to the delay in film tax incentives

  • ‘Inaccuracies’ lead to the delay in film tax incentives
    Independent.t. E.
    Ireland losing international television and movie production because of delays and problems with the system of tax incentives, according to sources close to the industry.
    https://www.independent.ie/business/media/inaccuracies-causing-delays-to-film-tax-relief-37207108.html
    https://www.independent.ie/business/article37207195.ece/8273f/AUTOCROP/h342/films

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Ireland losing international television and movie production because of delays and problems with the system of tax incentives, according to sources close to the industry.

Was launched in 2015 updated section 481, and one of the main advantages was that the tax credit was available in advance, when the production company took certain actions.

However, sources claim that it’s the down payment that was designed to give Ireland an edge in the highly competitive international market of production can no longer be honestly promoted as a perk.

It is clear that one of the stumbling blocks was the qualifying expenses. In the past, production companies presented financial costs, for example.

However, a spokesman for the company said it revealed “numerous inaccuracies and errors in statements that are made in accordance with section 481, leading to delays to in-depth consideration of the applications”.

He added: “the level of expertise the net application needs to match the risk to the Treasury with the increase in the cost of credit-the tax credit is received only in 2017 in the amount of 100 million euros.” Currently the Department is conducting a cost analysis of the relief film.

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