Increased tax credit to be made available for films with large VFX budgets

By Cillian Sherlock, Press Association

Films with large visual effects budgets will be able to apply for an increased tax credit, it has been announced.

The scheme, confirmed by Tánaiste Simon Harris and Culture Minister Patrick O’Donovan, is designed to make Ireland’s screen industry more competitive for high-value VFX work.

The Government expects it will support increased investment and create highly skilled jobs.

Productions with at least a million euros in eligible VFX expenditure will qualify for an enhanced 40 per cent film tax credit on eligible expenditure of up to €10 million per production.

Mr Harris said: “Ireland is already recognised around the world as a great place to make film and television.

“This new visual effects uplift will help us build on that reputation by making Ireland even more competitive in attracting high-value productions.

“It will support investment, create highly skilled jobs and provide new opportunities for Irish talent and companies working in one of the fastest-growing parts of the screen industry.

“This is about backing our creative sector and ensuring it continues to thrive.”