Eligible spend under popular tax relief increases for movie makers

The popular relief has been hailed as 'crucial' for  the growth of animation production in Ireland, representatives said ahead of the budget. Picture: Cartoon Saloon.

Finance Minister Michael McGrath has raised the cap on the Section 481 tax relief for film and television productions from €70m to €125m to boost the Irish audio visual sector.

The relief allows for a payable tax credit of up to 32% of eligible expenditure on a TV or film production that was created in Ireland, and the project cap increase will be implemented as part of Budget 2024, subject to State approval.