Saturday March 28, 2020

Taxman take a bow

Record numbers take advantage of film tax break.

20th July, 2014
Filming of Sky Atlantic’s new hit series, Penny Dreadful, was originally planned for Britain, but the production was lured to Dublin thanks to the Section 481 tax relief scheme.

Lights, cameras, tax break: a record number of investors benefitted from the Section 481 tax relief for film and television productions last year, shaving a combined €73 million off their tax bills. Provisional figures compiled by the Revenue Commissioners show that 4,217 people invested in the scheme last year, an increase of 1,000 people on 2012, when the total number of tax break investors was 3,370.

The tax authority said the gross cost to the exchequer was €73.1 million. The...

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