Written answers

Tuesday, 25 September 2012

Department of Finance

Film Industry Tax Reliefs

Photo of Paudie CoffeyPaudie Coffey (Waterford, Fine Gael)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance the plans he has to review the film industry's tax regime, an industry that historically has been extremely successful in attracting high profile films and TV productions; if his attention has been drawn to the fact that the Government in the United Kingdom is due to review their tax regime in respect of the film industry which could have a serious competitive impact on the film industry here; and if he will make a statement on the matter. [40483/12]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Finance Act 2011 provided for an extension of the film relief scheme to the end of 2015. In that context I believe it is now appropriate to review the scheme in the context of making timely decisions regarding the future of the scheme after 2015. the 2009 Commission on Taxation recommended that film relief should be the subject of regular review. It was last reviewed in 2007. The terms of reference for this Review, which is currently underway, involved the evaluation of the tax expenditure scheme in broad socio-economic and fiscal terms, and are summarised as follows:


-Examination of the costs and benefits of the existing scheme, taking into account displacement/deadweight impacts, and the interplay between this and other tax reliefs; The identification of value for money of the scheme to the economy overall; Examination of the international competitiveness context within which the sector operates; Recommendations, where and if necessary, for changes that could be made to enhance / maximise the value for money to the tax payer and sustainable job creation and taking digital production and technological advances into account.


Part of the work of the Review also involves an assessment of incentives in a number of competitor jurisdictions including the UK.

Twenty one responses were received following a public consultation process , which ended on 31 August last. These responses can be viewed on my Department’s tax policy website ( ).


My Department is currently examining the responses. I would envisage that the results of the review will be published in due course.

Comments

No comments

Log in or join to post a public comment.