independent

Sunday 20 April 2014

'Lucrative tax returns' on film investment here to end

The days of an easy 41 per cent return on your money for TV and film investment that supports products like Chris O'Dowd's Moone Boy are set to end following changes to film investment flagged in the Budget.

Though it won't kick in until 2016, a move to a tax credit model planned by Finance Minister Michael Noonan will see "lucrative tax returns come to an end", the Irish Film Board chief executive James Hickey confirmed.

Mr Hickey expects that new incentives for investment will have better benefits for film, TV and animation production in Ireland and for job creation.

"Long-term, it means that investors would be involved in the process in the same way, but the proposal is to preserve the best of the Section 481 system that was in place."

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