Improvements to Section 481 increases Ireland's competitiveness in Film Industry
The recent improvements to Irelands tax incentive scheme, Section 481 for film and television production, has dramatically improved Ireland's competitive position as a film location. The ceiling on qualifying expenditure for any one film has increased from €35 million to €50 million and projects may now derive a benefit of up to 28% of their Irish expenditure.
Ireland has proven to be an excellent co-producing partner for the European Film Industry and is a renowned international production centre with a wide range of financial incentives. Through the Celtic Tiger, the country has developed state of the art facilities, stunning locations and the availability of award winning cast and crew.
Irish films have received much international attention in recent years with Irish films winning almost every major international award such as Academy Awards® (Best Song for Once, Best Short Film for Six Shooter), the Palm D'Or at Cannes (The Wind That Shakes The Barley), the Golden Bear in Berlin (Bloody Sunday) and the Golden Lion in Venice (The Magdalene Sisters). “Once” also won the prestigious Best Foreign Film Award at the Independent Spirit Awards and Garage took home the CICAE Prize at the Cannes Film Festival in 2007.
2010 has been another astounding year for creative Irish talent, with recent Oscar Nominations for best animation for Cartoon Saloon’s Book of Kells, Peter J’s achievement for sound in Starwars and of course Granny Grimm’s for the short film category. This spotlight has resulted in Ireland developing a worldwide reputation as a creative hub which should help fuel the growth and recruitment possibilities of Irelands thriving film and multimedia industry.
