Oireachtas Joint and Select Committees

Wednesday, 5 October 2022

Committee on Budgetary Oversight

Film Sector Tax Credits: Discussion

Mr. John Arkins:

The Ladybird version, as the crew understand it, is that the production company, which gets the money, owns a 100% share of the DAC so it can say it goes to the DAC but the producer owns a 100% share of that DAC. It is all deflection away from the producer but the fact remains that the producer owns a 100% share of the DAC that is set up with section 481 money so the producer has the property rights. We do not know what the producer does with them but the DAC is just an accountancy tool. It has nothing to do with any of this stuff. You have to go and ask for the person who gets the section 481 money and that is the problem. Nobody actually asks them any questions. So many people are running interference. You need to ask them the questions because it is not me who is saying that they cannot have any employment relationships. They are saying it. They are saying it in submissions they lodged in the WRC. We have the documents and we can show them to anyone.

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