Irish film projects avail of €51m in tax relief last year

Seventy-three movie productions that availed of State tax reliefs last year supported more than 1,200 jobs.

Analysis by the Revenue Commissioners shows that the estimated expenditure on employment from the movies was €97m.

According to the Minister for Finance Michael Noonan, the estimated expenditure on goods and services from the productions was €70m.

In figures provided by Mr Noonan to Sinn Féin TD Peadar Toibín, the Revenue analysis shows that the actual amount eligible for relief in 2015 was €161m while the amount of relief authorised €51m.

The makers of the new Pierce Brosnan Hollywood thriller, I.T. shot in Dublin, were the biggest beneficiaries of the Government’s new tax relief for movie and TV productions last year.

According to figures provided by Revenue, the production firm behind the movie, Woodside Pictures Ltd last year received €2.4m in tax reliefs under the Section 481 Film Relief Scheme.

The overall value of the productions availing of the scheme in 2015 totalled €118m while the cost of the I.T. movie, that also stars Anna Friel, in 2015 amounted to €11.2m.

The firm that received the second highest tax relief at €1.63m was Element Pictures Productions Ltd for the second series of TV3’s Red Rock that cost €7m to produce.

Another Irish production firm, Léiriuchán RnaR Teoranta received €1.1m in tax reliefs towards Series 20 of Ros na Rún that cost €4.8m to produce. Productions by 32 production companies received tax reliefs.

The most expensive production under the Section 481 scheme last year included in the Revenue list is Telegael Teoranta’s Blinky Bill The Movie that cost €12.79m to make and availed of €314,109 in tax reliefs.

Telegael had a busy year with its productions under Section 481 last year totalling €35.9m. This includes the Blinky Bill TV series, costing €9.3m, which availed of €992,952 in tax reliefs and its YoYo production costing €7.15m after availing of €903,089 in tax reliefs. Its Skinny Boys Series 2 production cost €6.7m having availed of €1m in tax reliefs.

The list also show that Newgrange Pictures Ltd’s the King’s Choice, which covers Nazi Germany’s attack on Norway in 1940, cost €8m to make and availed of €202,590 in tax reliefs.