Minister for Arts and Culture Patrick O’Donovan launched the ‘Scéal Uplift’ tax credit scheme to support Irish films with budgets up to €20m.
The new scheme adds an 8pc tax relief to the existing 32pc tax incentive under Section 481 for mid-to-lower budget films and animated features.
At the launch, Minister O’Donovan highlighted that the initiative would benefit workers in creative roles within the Irish film industry and improve local cinemas.
Additionally, a new fund called ‘Smaointe’ was announced to support Irish-language narrative projects across different media.
Screen Ireland’s report indicated that the audio-visual sector contributes €1 billion to Ireland’s economy, with 66pc of production costs supported by Section 481 tax relief.
Minister for Finance Paschal Donohoe shared. “This is a positive change to Section 481 which will benefit the Irish film industry, Irish film workers in senior creative roles and Irish cinemas. Scéal Uplift is a fantastic addition to our already globally recognised Section 481 film tax credit,”
