As a gamer with a deep passion for cinema, especially Irish productions, I am thrilled by this latest move from the Irish government. The 40% tax incentive for lower to mid-range budget films helmed by Irish creative talent is like a power-up for our local film scene!
On Tuesday, the Irish government revealed a set of tax benefits designed to foster local film and television production talents. In their 2025 budget proposal, Dublin introduced a fresh 40% tax incentive for movies within a moderate price range, which are directed by Irish creative professionals.
As a movie enthusiast, I’m thrilled to share that we’re boosting Ireland‘s current Section 481 film tax incentive by a significant 8 percent! This enhancement is designed for productions with a total budget of up to €20 million ($22 million). What an exciting time for Irish cinema!
The strategic plan we’re adopting intends to amplify the vibrant Irish film industry that’s currently experiencing a resurgence. Notable productions such as Tim Mielants’ Small Things Like These, starring Cillian Murphy, which kicked off this year’s Berlin Film Festival, and the Gaelic rap comedy Kneecap, winner of the Audience Award: NEXT at Sundance and Ireland’s contender for the 2025 Oscars in the best international feature category, are part of this wave. In fact, 2022 saw a record five Irish films premiered in Cannes.
Ireland’s Finance Minister, Jack Chambers, has announced proposals for a 20% tax reduction in the field of unscripted production, subject to EU endorsement.
Desiree Finnegan, head of Screen Ireland, the country’s national film agency, expressed her approval for these new measures. She stated that these steps will aid in further cultivating Ireland as a significant cultural force and a reliable collaborative partner in global creative productions.
screenIreland has not only talked the talk but walked the walk as well, increasing its budget to an unprecedented €34 million ($38 million) this year. This shows their confidence, as they have planned a budget of $42 million for 2024, another record-breaking amount.
Due to Dublin’s increase in the cap for its standard 32% rebate, Ireland is currently experiencing an influx of film and TV productions. This change now allows producers to reclaim up to €125 million ($138 million) of their local expenditure per project, which was previously limited to €70 million ($78 million).
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2024-10-01 16:54