New figures provided by the Revenue Commissioners show that Irish co-producers, Wild Atlantic Pictures Ltd of Abigail - due for general release later this month - received corporation tax credits between €5m and €10m under Section 481 of the Tax Consolidation Act.
The €40.5m claimed in tax credits for the first quarter is a 28% jump on the €30.6m claimed for the same period last year and compares to €129.5m for the 12 months of 2023. He said:"It also enables producers to make lower budget indigenous productions across the country which bring Irish stories to screens around the world."
He said:"Irish production companies will operate on a more competitive standing internationally and will have better capacity to scale their companies and increase their development and production output." In an exchange with Minister for Finance, Michael McGrath, Deputy Richard Boyd Barrett of People Before Profit Solidarity said:"For years now, film workers have been saying that film producers who get the section 481 tax credit are failing to vindicate those workers' rights."
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