22 October 2019 The Irish Film & Television Network
Actors
TV
Crew
Digital
Distribution
Education / Training
Equipment
Festivals / Markets
Finance
Legal
Locations Ireland
Post Production
Production
Rep Bodies
JOBS FILMOGRAPHY NEWS WHO'S WHO DIARY GALLERY IFTA
     
Finance
Corporate Finance
Public Funding
Section 481
Film Insurance
TV Commissions
Information
Who's Who
IFTN Finance News
Site Map
IFTN HOME

Irish Film and Television Network

 »

Finance

 »

IFTN Finance News



Screen Ireland Welcomes New Skills Development Requirements for the S481 Irish Tax Incentive
05 Apr 2019 : News Desk
Screen Ireland
The Department of Culture Heritage and the Gaeltacht has issued new guidelines on Section 481, the Irish tax incentive for the film, television and animation industry.

One of the key elements of the incentive is that producers are required to develop the skills of those working on the relevant production benefiting from the incentive.

Producers will now need to set out the estimated number of employees on set likely to be upskilled in the course of the film and submit a Proposed Skills Development Plan to Screen Ireland, which must be agreed in advance with the agency.

Speaking about the changes James Hickey, Chief Executive of Screen Ireland said:

“We welcome the new skills development requirement linked to the Section 481 tax credit, as we believe it will provide a strong structured basis for the sector to grow and develop in the coming years, focusing on the skills of the individuals working within the industry. The new skills development requirement is wide-ranging and inclusive, covering skills development across all levels of production, focusing on quality over quantity in terms of the outcomes it delivers.

“We look forward to working with the Department of Culture, Heritage and the Gaeltacht who will now be administering the incentive with the Revenue. We also look forward to the expected publication of guidelines on eligible expenditure and PAYE/Schedule D employees from the Revenue, which will help ensure the incentive works more efficiently.

“An efficient tax incentive plays a central role in developing Ireland as a global media production hub through attracting large-scale international productions and developing a flourishing indigenous sector. Currently, there are 12,000 full-time equivalent jobs in film, television and animation production in Ireland and the plan is to double that figure to 24,000 over the next five years. With the newly introduced regional uplift of 5%* we hope that counties across the breath of Ireland will benefit from increased employment opportunities from film, television and animation production.”

The screen industries have a Gross Value Added of €692 million to the Irish economy.

*The 5% Regional Uplift is subject to EU approval.




BREAKING NEWS
Screen Ireland announces Successful Teams for Latest Round of Focus Shorts
Screen Skills Ireland & Animation Skillnet to host event with Oscar-winning animation director Hal Hickel
Finky selected for Official Competition at the Tallinn Black Nights Film Festival
Cork Film Festival unveils full programme for 64th festival

FEATURES & INTERVIEWS
Writer Tess McGowan discusses her debut feature film, A Bump Along The Way
ONLINE EXCLUSIVE: Terry McMahon discusses his new feature doc The Prizefighter
Free Industry Newsletter
Subscribe to IFTN's industry newsletter - it's free and e-mailed directly to your inbox every week.
Click here to sign up.


RELATED NEWS
Screen Ireland announces Successful Teams for Latest Round of Focus Shorts
21 Oct 2019 
Finky selected for Official Competition at the Tallinn Black Nights Film Festival
18 Oct 2019 
Cork Film Festival unveils full programme for 64th festival
18 Oct 2019 
Principal photography underway on Deadpan Pictures' comedy-drama The South Westerlies
15 Oct 2019 
EDITOR'S PICK
Screen Ireland announces Successful Teams for Latest Round of Focus Shorts
Finky selected for Official Competition at the Tallinn Black Nights Film Festival
New Boomtown Rats feature doc from Sideline Announced by BeyondTNC
Principal photography underway on Deadpan Pictures' comedy-drama The South Westerlies
MORE ON IFTN
Irish Production Companies
Listings for Irish film & television production companies
What's In Production?
The latest info on projects filming in Ireland
Latest Industry Jobs
Job listings for Irish film & television crew

CONNECT WITH IFTN
Find us on Facebook
Follow IFTN on Twitter
E-Newsletter Subscribe
Subscribe to RSS Feed




 
 the Website  Directory List  Festivals  Who's Who  Locations  Filmography  News  Crew  Actors


 

Contact Us | Advertise | Copyright | Terms & Conditions | Security & Privacy | RSS Feed | Twitter