Written by David Lewis on Dec 12, 2008. Posted in Incentive News

Ireland to become more competitive for productions

Martin Cullen, Ireland's Minister for Arts, Sport and Tourism, has announced improvements to the Irish tax incentive for film and television.

Proposed changes to the incentive, which runs to 2012, include raising the cap on individual investments to EUR50,000 from EUR31,750 and an increase on investment relief from 80% to 100%.

James Morris, the Irish Film Board Chairman, said: "Ireland will be able to offer a 28% net benefit to international film producers, making Ireland an extremely competitive location for film production."

The new changes to the tax incentive were introduced by Government in response to the Irish Film Board commissioned report Restoring Viability and Balance to the Irish Film Production Industry which was submitted to Martin Cullen earlier this year and will be implemented in the 2009 Finance Bill.

So far in 2008, Irish Film Board funded film and television projects have contributed over EUR75 million to the Irish economy.

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