Seán Kyne (Fine Gael) | Oireachtas source

I move recommendation No. 14:

In page 102, between lines 6 and 7, to insert the following:

“Report on Tax Credit for Regional Film Development

42.The Minister shall within 3 months of the passing of this Act prepare and lay before both Houses of the Oireachtas a report on the impact of retaining the enhanced tax credit for regional film development at its original level until 31st December 2028.”.

Section 481, as the Minister is aware, is a very important measure within the finance legislation, with the rate of tax credit being worth up to 32% of eligible Irish expenditure. In addition, there is the regional uplift which is particularly beneficial to those areas outside of Dublin, Wicklow, and Cork city and county. Having had some part to play in the launch of the western regional audiovisual production. WRAP, fund a number of years ago, which is a collaboration of the Western Development Commission and Ardán, with the support of the local authorities in Galway city and county, Clare, Donegal, Leitrim, Mayo, Roscommon and Sligo, as well as Údarás na Gaeltachta. This allows for strategic investment on commercial terms and encourages regional production in films, television, drama, animation and gaming. It is an area that has great potential but also has a very significant footfall across the city and county of Galway and across the regions, so it is of great importance. We ask in the amendment we tabled on the retention of the enhanced tax credits for film development, which we plan until the end of December 2028, whether the Minister will lay a report in respect of the impact of the retention of this very important tax measure.