Gerald Nash (Louth, Labour)
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76. To ask the Minister for Finance if he is aware of the advantageous (40% and 39% respectively) visual effects (VFX)-related tax reliefs system the French and UK governments have introduced to support their respective VFX industries; if he is concerned that these measures will create a competitive disadvantage for the Irish VFX sector; if he is considering any measures to address this matter specifically as it relates to the indigenous Irish VFX sector in respect of a potential review of tax credits, for example; and if he will make a statement on the matter. [28530/24]

Jack Chambers (Dublin West, Fianna Fail)
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Ireland’s long-standing section 481 film tax credit provides relief in the form of a corporation tax credit related to the cost of production of certain audio-visual productions, including costs incurred on visual effects (VFX). The scheme is intended to act as a stimulus to the creation of an indigenous film industry in the State, creating quality employment opportunities and supporting the expression of Irish and European culture.

Currently, the credit is granted at a rate of 32% of the lowest of:

• eligible expenditure,
• 80% of the total cost of production of the film, and
• €125 million, increased from €70 million in Budget 2024.

I have been made aware, by industry stakeholders and by my officials, of the uplift for VFX production currently available in France, and of the UK Government’s recent consultation process on a proposal to enhance its VFX supports in April 2025. However the Deputy will be aware that it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.