Ireland is to extend its Section 481 tax credit to 32% of qualifying expenditure from 2015.

Ireland is to increase the value of its film and TV tax incentive Section 481 to 32% of qualifying expenditure from 2015, from its current value of 28%. As previously reported, the relief has also been extended to 2020.

The amendments were confirmed in last week’s Irish Finance Bill.

Commenting on the changes, James Hickey, chief executive of the IFB said: “The legislation published this week demonstrates the proactive approach that the Irish Government is taking in its commitment to the Irish film, television and animation industries.

“The enhancements to Irish tax incentive, Section 481, together with a modern film studio infrastructure, experienced local producers, award-winning cast and crew  and beautiful film locations, makes Irelands a competitive base for international film and television.”