State 'making money on films made in Ireland'

An independent film producer has claimed the State is making more than it is losing when films are made in Ireland.

Representatives of the Irish film industry are due before the Oireachtas finance committee today to explain their opposition to the abolition of the industry's lucrative tax incentives.

Speaking ahead of today's meeting, James Flynn, an independent film producer, claimed the Irish State was making €3 for every €1 lost in tax revenue due to Section 481.

He said a film production he was working on was spending €50m on Irish jobs, goods and services, while the loss of tax revenue relating to the film only amounted to €3.5m.

Officials from the Revenue Commissioners, the Department of Finance and the Department of Arts, Sports and Tourism are also due before the committee to discuss the matter.

The Government is planning to abolish the so-called Section 481 tax incentive, which has attracted much film-related business to Ireland over the past 10 years.

The Irish film industry has claimed that the removal of the tax break would lead to thousands of job losses.