Niamh Smyth (Cavan-Monaghan, Fianna Fail)
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57. To ask the Minister for Finance the timeframe and nature of changes to section 481; and if he will make a statement on the matter. [47547/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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Section 481 of the Taxes Consolidation Act 1997 provides relief in the form of a corporation tax credit related to the cost of production of certain films. The credit is granted at a rate of 32% of the lowest of:

(i) eligible expenditure;

(ii) 80% of the total cost of production of the film;

(iii) €70,000,000.

* The minimum amount that must be spent on the production is €250,000 and the minimum eligible expenditure amount to qualify is €125,000.

As a tax expenditure of the Taxes Consolidation Act 1997, Section 481 is 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. A full ex post analysis and review of section 481 will be undertaken in line with the tax expenditure guidelines prior to any announcement on the extension of the relief. 

This review will be done in advance of any extension of the relief beyond 2020.