Josepha Madigan (Dublin Rathdown, Fine Gael) | Oireachtas source

The Olsberg report will be published on 27 June, together with my audiovisual plan, which I mentioned in my response. Changes to the tax code are always budget announcements. However, the necessary work to enable announcement in this year’s budget is under way. It is a tax expenditure and is therefore subject to the requirements of the Department of Finance tax expenditure guidelines. As a requirement under the guidelines, reliefs such as section 481 are required to be reviewed periodically. This review is under way and the Olsberg report will feed into this review. We are also very aware of the importance of the tax credit system in supporting the industry in Ireland and the need to be competitive with other jurisdictions, which have support for the industry.

The origins of section 481 lay in the business expansion scheme in 1984, which allowed individuals to claim tax relief on investments in film production and other designated enterprise sectors.

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