It had been due to expire in 2012.

The Irish film and television tax investment scheme – Section 481 – has been extended for a further three years until December 2015.

The scheme was due to expire at the end of 2012, but the decision to extend it was made as a result of its “significant and positive impact on this sector,” said the Irish minister for culture, tourism and sport, Mary Hanafin.

The incentive was increased in 2008, so that Ireland can offer between 26% - 28% net benefit to film producers on film and television productions, up from the previous 20%.

The overall ceiling on qualifying expenditure was also increased from €35m to €50m per individual project, with the individual investor cap  increased to €50,000 per annum and the relief on that investment was increased to 100% from 80%.  

Responding to the news Irish Film Board Chairman James Morris said “The extension of the Irish tax incentive for film and television, Section 481, until 2015 represents strong support from the Irish Government for the Irish film and television sector, which remains firmly open for business.”

“The guarantee until 2015 comes at a crucial time and will ensure stability and certainty for international producers planning to co-produce with Ireland. 2010 was a record year for Ireland in terms of international production activity and we hope to repeat similar levels of production in 2011,” he added.

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