Film tax relief extended

Section 481 film tax relief has been extended to the end of 2008 by Finance Minister Charlie McCreevy in his Budget for 2004.

The ceiling has been increased to €15m from 2005.

The Minister said no further review of the scheme was planned.

Heavy lobbying from the film industry seems to have paid off with many organisations warning if section 481 was abolished the Irish film industry could face possible extinction .

Annual Irish expenditure by the Irish film industry reached €107m in 2001 while expenditure on Irish goods and services during audiovisual productions reached €122.6m in 2002.