Audiovisual Ireland, a lobby group representing the Irish screen industry as part of Ibec, is urging the Irish Government to introduce fresh incentives to protect the country’s film sector. This move comes as a response to new tax reliefs introduced in the UK which could potentially harm the Irish industry by drawing business away.
The film industry in Ireland has seen impressive growth over recent years, largely due to the critical role played by section 481 tax incentive. Cork-born actor Cillian Murphy’s recent Best Actor Oscar victory for his starring role in Oppenheimer attests to the sector’s global recognition.
Despite this, heightened tax reliefs in the UK has posed a threat. Last week, the UK government raised tax breaks for productions up to around 40%, including those for visual effects. Audiovisual Ireland, representing a wide array of sectors including animation, film and TV production, broadcasters, post-production and visual effects studios, voiced concerns over these new tax advantages in Britain.
Torlach Denihan of Audiovisual Ireland stated that a closer examination of what Britain has presented is vital, as productions may be drawn to the UK, threatening Ireland’s industry.
Currently supporting 12,000 jobs and contributing over €700 million annually in production activity, the Irish screen industry might be put at risk if productions are driven overseas. The organization has therefore suggested the Government consider implementing an elevated Section 481 tax credit for visual effects digital production, following the French TRIPS tax incentive model.
There is also a call to deal sternly with digital piracy, a threat to jobs in the Irish screen industry. The need to create a dedicated digital piracy sector within An Garda Siochana’s Intellectual Property Unit to combat pirated content resellers has also been highlighted by Audiovisual Ireland.