Delay in tax relief guidance hampering film industry, TD says

Delay in tax relief guidance hampering film industry, TD says
Still from Oscar-winning Irish produced film The Favourite

A Fianna Fáil TD is hitting out at the delays in providing guidance for tax reliefs for the film industry.

Niamh Smith says the stalling by the Government in bringing in Budget changes is causing widespread damage to the sector.

She says the review of draft regulations is taking too long and is putting projects at risk of being defunded.

The new draft regulations will extend section 481 tax relief until 2024.

Deputy Smith says it is not helping the good work being done in the industry.

"We've seen The Room, The Favourite, all of these wonderfully produced films reaching the heights of Los Angeles and London and everywhere else," said Ms Smith.

All of that good work and momentum is there but unfortunately that is being hampered by this government's inability to enact or to provide the guidance that is needed around the tax relief.

Deputy Smith said that the Department of Finance and Culture Minister Josepha Madigan need to say how it will work.

"They knew it was something that was coming down the tracks and between the preparation for the Budget and since the Budget, we're into April of 2019, that gives a total of nine months since Revenue started working on the issue and there has been no clarity on how the scheme will actually operate.

"So that causes a disincentive to the film industry when it is actually intended to be an incentive."

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