Screen Industry welcomes S.481 film tax credit Budget announcement

Audiovisual Ireland, the representative body for the screen industry within Ibec, has welcomed the new 8 per cent uplift, under the section 481 film tax credit, for feature film productions with a maximum qualifying expenditure of €20 million.

Torlach Denihan, Director of Audiovisual Ireland said:

"Today’s Budget announcement is very positive for the Irish screen sector and is most welcome in light of increased competition from the UK due to enhancements made to their incentives earlier this year. The Minister for Finance, Jack Chambers T.D., and his colleague the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Catherine Martin T.D., are to be congratulated on moving promptly to help the sector remain competitive.

The commitment by the Minister for Finance to monitor trends in the VFX sector internationally over the coming year with a view to providing options to introduce a sector specific measure as part of Budget 2026 is very welcome. We note that this was one of several positive features in the Budget speech, including the introduction of a new tax credit for unscripted production.

These measures will help the screen sector to capitalise on its remarkable achievements over the last decade and to secure a vibrant future for the industry, which creates some 12,000 jobs, is estimated to be worth over €692 million to Ireland, and which won a host of international awards including 31 Academy Award nominations since 2010.”