Funding

Section 481 Funding

Section 481 is the tax incentive for film and television productions made in Ireland.

From  January 1st 2015, Ireland’s tax incentive “Section 481″ for film and television is enhanced, creating a new payable tax credit programme.

  • Increased rate of relief

The rate of tax relief has been significantly increased and is now worth up to 32% of eligible Irish expenditure.

  • Expansion of eligible expenditure criteria

The payable tax credit is now based on the cost of ALL cast & crew working in Ireland, regardless of nationality.

  • Greater flexibility in the application process

An application for a certificate entitling the applicant to the tax credit can be submitted at any time prior to the completion of the project.

What is “Section 481″?

“Section 481″ is a tax credit, incentivising film & TV production made in Ireland, administered by Ireland’s Revenue Commissioners (Revenue). Applications are made by e-mail to S.481relief@revenue.ie, or at Revenue Secure-email.

What types of projects qualify?

The incentive applies to feature film, TV drama (singles or series), animation (excluding computer games), & creative documentary. Projects must either pass the Cultural Test or qualify as an official co-production under one of Irelands Bilateral Co-Production Treaties or the European Convention on Cinematographic Co-Production.

Who is eligible to apply?

The application to Revenue is made by the “Producer Company”.

A “Producer Company” must:

  • —  Be Irish resident or trading through a branch or agency
  • —  Make film and TV for cinema exhibition or broadcast or online
  • —  Be trading for at least 12 months and have filed with Revenue a corporation tax return
  • —  Not be connected to a broadcaster
  • —  Hold 100% shareholding in a “Qualifying Company”

A “Qualifying Company” must:

  • —  Be Irish resident or trading through a Branch or Agency
  • —  Exists as an SPV to make one film

What is the “Section 481″ benefit worth?

The applicant producer company can claim a payable tax credit of up to 32% of “eligible expenditure”.

What is eligible expenditure?

The payable tax credit is based on the cost of ALL cast & crew working in Ireland, regardless of nationality, as well as goods, services & facilities purchased in Ireland.

Is withholding tax applied to international cast & crew working in Ireland?

Film Withholding Tax (FWT), at a rate of 20%, applies to payments made to Actors (including voice-over artists) for artistic services rendered to the “Qualifying Company”, but only if the Actor in question is tax-resident outside the EU and EEA. More information about FWT is available at www.revenue.ie or by contacting the FWT Unit at fwtunit@revenue.ie.

Is there a cap on the incentive?

There is no annual cap or limit on the funding of the programme, meaning there is no limit to the value of the cumulative payable tax credits made by Revenue.

The tax credit has a “per project” cap of up to 32% of the lower of:

(1)     “Eligible expenditure”

(2)     80% of the total cost of production

(3)     €50 million

When is the rebate paid?

Option A - Single Instalment:

On completion of the project and submission of a compliance report to Revenue, payment of 100% of the tax credit may be paid by the Revenue within 30 days.

Option B - Two Instalments:

First instalment being 90% of the tax credit due, upon:

1) Financial Closing, including proof that 68% of eligible expenditure is lodged to the project production account;

2) Irish Film Board certification (IFB funded projects only); or

3) Tax credit guaranteed by financial institution, and

Second & final instalment being 10% balance on submission of compliance report to Revenue.

How is payment made by Revenue?

Payment of the relief may be claimed against the producer company’s corporation tax (CT) liabilities. In the event the relief due is greater than any tax due by the producer company, then a payment of the excess will be made by Revenue.

Is there a minimum spend level?

Projects are excluded from the incentive if their “eligible expenditure” is less than €125,000, or the total cost of production is less than €250,000.

When are applications made to Ireland’s Revenue?

An application for a certificate entitling the applicant to the tax credit can be submitted at any time up to but prior to the completion of the project.

Does the tax credit apply to post production expenditure, including VFX?

Yes, the tax credit applies to “eligible expenditure”, including that incurred during post production and/or on VFX.

Is there a “sunset” date?

Ireland’s film and TV tax credit of up to 32% runs until December 31st 2020.

Irish Revenue Commissioners (Revenue)

Ireland’s film & TV tax credit is administered by Revenue. Contact details, and further information about the incentive programme is available at www.revenue.ie.

Further Guidance

The IFB recommends international producers who are considering making a film or TV project in Ireland work with an established Irish production company. Your Irish producer has strong existing relations with local crew and other service providers, and can provide the full range of production services, including the application to Revenue for the tax credit, as well as managing all stages of production including budgeting, scouting, scheduling, casting and crewing.

For further information please see:

www.irishfilmboard.ie/financing

Creative Europe Desk Galway

Creative Europe (2014-2020)

Creative Europe (2014-2020)

Creative Europe replaces the MEDIA, MEDIA Mundus and Culture Programmes. The first Calls for Proposals are now open.

With a total budget of € 1.4 billion (2014 – 2020) Creative Europe aims to further strengthen cross border cooperation between the creative sectors within the EU and beyond.  With the intention of fostering cultural diversity as well as growth and jobs, Creative Europe is part of the “Europe 2020 Strategy” for smart, sustainable and inclusive growth.

MEDIA sub-programme

MEDIA sub-programme

The MEDIA sub-programme of Creative Europe supports the EU film and audiovisual industries financially in the development, distribution and promotion of their work.  It helps to launch projects with a European dimension and nurtures new technologies; it enables European films and audiovisual works to find markets beyond national and European, borders; it funds training and development schemes. The training and market access schemes have a new international dimension in order to build connections with audiovisual industries outside of the European Union.

For 2014 three new initiatives in Audience Development & Film Literacy, International Co-productions and Video Games will be launched. More innovations will follow including a new Financial Instrument for the Creative sector.

The main action lines of the MEDIA Sub-programme focus on the:

Culture Sub-Programme

Culture Sub-Programme

The Culture sub-programme of Creative Europe supports cultural and creative organisations with a view to helping them operate transnationally and promoting cross-border circulation of works of culture and mobility of cultural players.

 

Contact: Eibhlín Ní Mhunghaile

Contact

MEDIA Antenna
Cluain Mhuire, Monivea Road
Galway
Ireland
+353 91 770728
+353 91 770746
http://www.media-antenna.com

Deadlines for the various schemes run throughout the year. You can download guidelines and application forms from www.media-antenna.com or call  MEDIA Antenna Galway (353-91-770-728)


Creative Europe Desk Galway

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Located in the Galway Film Centre, the MEDIA Antenna serves as a regional MEDIA office and also has a particular remit to provide information and services as Gaeilge to the growing Irish language audio-visual community.

The Creative Europe Desk Galway is funded by the European Commission in partnership with Údarás na Gaeltachta, TG4, Bord Scannán na hÉireann/The Irish Film Board and the Galway Film Centre.

Contact: Eibhlín Ní Mhunghaile
The Creative Europe Desk Galway, Cluain Mhuire, Monivea Road, Galway. Ireland
Tel: +353 91 770728
Fax: +353 91 770746

Ireland’s film and TV tax credit of up to 32% runs until December 31st 2020.

  • Tax Credit 32%

Irish Revenue Commissioners (Revenue)

Ireland’s film & TV tax credit is administered by Revenue. Contact details, and further information about the incentive programme is available at www.revenue.ie

Further Guidance

The IFB recommends international producers who are considering making a film or TV project in Ireland work with an established Irish production company.

Your Irish producer has strong existing relations with local crew and other service providers, and can provide the full range of production services, including the application to Revenue for the tax credit, as well as managing all stages of production including budgeting, scouting, scheduling, casting and crewing.