Important tax incentive must be protected
Fianna Fáil Spokesperson on Arts Robert Troy TD is encouraging the Film industry to engage with the Government’s review of the Section 481 ‘Film Relief’ to ensure there is a strong case made to retain the tax incentive.
Deputy Troy said: “The Film Industry is extremely important for Ireland and has been of significant benefit to the economy and understanding of Irish culture over the years. The relief for this industry has been in place in various forms for almost 30 years and Fianna Fáil extended the current scheme to 2015. The Fine Gael-Labour Government has now decided to review it before deciding on its future.
“It is crucial that the Government understands how important this industry can be for the country. Over the past 20 years Ireland has played host to a number of very successful international productions such as Saving Private Ryan, Braveheart and more recently Harry Potter, PS I Love You, Becoming Jane and Leap Year.
“Since 1992 the numbers in the Irish film and television industry have grown from 1,000 directly employed to 6,000 by 2008 and over 560 small and medium enterprises working in this area. The benefits of high levels of film and television production in Ireland include increased international investment, increased employment in the sector and positive spin-off effects for promoting Ireland as a tourist destination.
“The estimated worth to Ireland off the audiovisual content production sector is over €550 million. But this is not simply about money – this is about supporting Irish culture and Irish talent.
“I am urging all interested parties to across the industry to make their submissions to the Department of Finance and Fianna Fáil will also be strongly advocating the retention of the Section 481 relief,” concluded Deputy Troy.
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