Michael Creed
Question:127 Mr. Creed asked the Minister for Arts, Culture and the Gaeltacht the incentives available in respect of film production in Ireland. [11480/96]
Vol. 466 No. 4
127 Mr. Creed asked the Minister for Arts, Culture and the Gaeltacht the incentives available in respect of film production in Ireland. [11480/96]
The two main incentives available for film production in Ireland are: Section 35 of the Finance Act, 1987, as amended, which provides tax relief to persons or companies investing in the production of a qualifying film, the main features of which are: — for productions commencing principal photography in the off-peak production period covering the months of October to January inclusive, up to 66 per cent of the cost of production of projects under £4 million and 55 per cent of the cost of production of projects over £5 million can be raised under Section 35, subject to a maximum of £8.25 million; in peak production periods covering the months February to September inclusive, the amount of investments which can be raised under Section 35 is 60 per cent of the cost of production of projects under £4 million and 50 per cent of projects over £5 million, subject to a maximum of £7.5 million; tax relief on individual and company investments is 80 per cent of the amount invested, but both individual and corporate investors may now dispose of their shares at the end of one year instead of every three years; the annual limit for investments by corporate investors is £6 million; Section 35 tax relief is triggered at the first day of principal photography; and development and production loans awarded by Bórd Scannán na hÉireann, the Irish Film Board, for the development of projects and the production of films.
Some funding for films is made available by RTÉ under the provisions of the Broadcasting Authority (Amendment) Act, 1993, and An Comhairle Ealaíon operates a film and video awards, scheme which includes short dramas, animated shorts and experimental productions.