Imelda Munster (Louth, Sinn Fein)
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360.To ask the Minister for Finance if he plans to introduce an 8% VFX uplift to the current section 481 legislation; and if he will make a statement on the matter. [32299/24]

Jack Chambers (Dublin West, Fianna Fail)
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The 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