Tax break deal inked with South Africa will benefit film industry
IRISH film-makers will be able to access tax breaks and government funding in South Africa after a deal between both governments was signed at the Cannes Film Festival yesterday.
Arts Minister Jimmy Deenihan said the deal would open up new opportunities for Irish film-makers.
South Africa allows tax breaks for up to 35pc of production costs for films made by local companies. Ireland offers up to 28pc on a maximum spend of €50m.
The deal means that collaborations can claim the tax breaks in both countries.
"Today's agreement aims to allow Irish film-makers and production companies to forge closer links with their South African counterparts, for the benefit of both parties," Mr Deenihan said.
Recent Irish-South African co-productions include Andie MacDowell vehicle 'Tara Road'.