05/12/12 – Deenihan welcomes extension of Section 481 until the end of 2020
• €60.7 million funding for Arts Council for 2013
December 5th – Jimmy Deenihan TD, Minister for Arts, Heritage and the Gaeltacht, has welcomed the extension of Section 481, Film Tax Relief Scheme, until the end of 2020. Minister Deenihan has also confirmed funding of more than €60 million for the Arts Council for 2013.
In his budget speech, Minister Michael Noonan has confirmed that the Film Tax Relief Scheme will be extended to 2020. The scheme will operate as a tax credit model from 2016.
Minister Deenihan commented:
“This is very good news. The extension of this scheme will give a great deal of certainty to the Irish audiovisual sector to the end of this decade. Moving to a tax credit model will be a significant change, but there is an extended lead in period to the new arrangements to enable the sector to adapt.
“This year alone a number of significant productions are filming in Ireland including Vikings with an spend in Ireland of €25 million, and Ripper Street with a spend of almost €11 million. The extension of the scheme is important for Ireland, for both the jobs that are supported by this sector and our location as a place for film and audiovisual investment.”
Minister Deenihan has also confirmed that €60.7 million will be allocated for the Arts Council for 2013 from current, capital and European Presidency funding. Minister Deenihan commented:
“The total allocation to the Arts Council for 2013 will be €60.7 million. This is the maximum possible funding that I can allocate to the Arts Council for next year, and is below the average reduction that I have had to apply across the board in my Department.
“Arts Council supported organisations are a significant source of employment across the country. I anticipate this level of funding will continue to underpin this employment in the arts sector.”
Note to Editors:
Major projects approved under Section 481 to date this year, and their spend in Ireland, include The Vikings (€25m), Ripper Street (€10.7m), Quirke (€7.3m) and Foyles’s War (€5.9m). Significant ani