Ireland receives VFX tax relief uplift at 40% rate

Ireland will receive an uplift in VFX tax relief, at a 40% rate as an enhancement of the Section 481 tax credit outlined in today’s (October 7) government budget. 

The relief is eligible for productions with a minimum of €1m eligible expenditure on relevant VFX work. Previously, VFX work qualified for the standard 32% Section 481 relief. 

VFX work carried out in Ireland includes Marvel Studios’ Wanda Vision and Spiderman – No Way Home plus FX’s Shogun for Disney+.

In the UK, as unveiled in the autumn 2024 budget, UK VFX costs on film and high-end TV productions received a 5% increase in tax relief for an overall net rate of 29.25%, and is exempt from the overall 80% cap on spending eligible for the main Audio-Visual Expenditure Credit.

“Irish VFX and post-production work showcases the very best of visual artistry and technical expertise, generating both commercial success and international award-winning work,” said Désirée Finnegan, Screen Ireland chief executive.

“Screen Ireland has worked closely with Ireland’s VFX and post-production studios to strengthen relationships with the world’s leading film studios - to drive growth, creating employment and supporting skills development opportunities through the National Talent Academy for VFX.”

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