Visual Effects Uplift tax credit to significantly boost the Midwest region’s screen industry

Visual Effects Uplift tax credit to boost the region’s screen industry – pictured above is Mark Maher (CEO Odyssey Studios model design company from Limerick) pictured with Minister Patrick O’Donnovan TD during a visit to Troy Studios. Picture: Brian Arthur

The national Visual Effects Uplift tax credit comes into effect, marking a welcome boost for film in Ireland and the Midwest

A new Visual Effects (VFX) Uplift to the Section 481 Film Tax Credit has come into effect, providing a significant boost to Ireland’s screen industry by making the State more competitive in attracting high-value visual effects work.

Announced by Tánaiste and Minister for Finance Simon Harris and the Minister for Culture, Communications and Sport Patrick O’Donovan, the tax relief is expected to support increased investment, create highly skilled jobs and strengthen Ireland’s position as a leading location for international film and television production.

Under the measure, productions with at least €1 million in eligible visual effects expenditure will qualify for an enhanced 40 per cent Film Tax Credit on eligible expenditure of up to €10 million per production.

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The standard Section 481 credit of 32 per cent will continue to apply to eligible expenditure above this threshold.

The uplift will be available to productions that receive a cultural certificate from the Department of Culture, Communications and Sport and meet the qualifying conditions under the Section 481 Film Tax Credit.

The tax credit adds to the tax relief for the unscripted production sector introduced by the Government earlier this year, which Film in Limerick‘s Regional Film Manager, Paul C. Ryan said is adding to the region’s growth in film production

He noted, “The Mid-West has seen massive growth in scripted film production in recent years, with TV shows such as Foundation and The Wayfinders filming throughout the region, as well as feature films like The Pope’s Exorcist and Double Blind.”

Announcing the commencement of the measure, the Tánaiste 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.

“I’m delighted that this measure is now in place and I would like to thank everyone involved in bringing it forward, particularly the Department of Culture, Communications and Sport, Revenue, Screen Ireland and industry representatives for their collaboration.”

Speaking recently, Minister O’Donovan said, “Building on the success of Section 481, this enhancement is a great opportunity in particular, to the Irish VFX industry but also the wider Irish screen industry. It shows the continued support this government has for our many talented creative sectors. I look forward to seeing the productions that will be created in the coming years as a result of this enhancement”.

Désirée Finnegan, Chief Executive of Fís Éireann/Screen Ireland, said, “Fís Éireann/Screen Ireland would like to thank Tánaiste and Minister for Finance alongside Minister O’Donovan for their continued recognition and support of the Irish creative screen industries. This enhanced credit for visual effects strengthens Ireland’s position as a leading hub for VFX and post-production work, highlighting the visual artistry and technical expertise of the Irish industry. Through the National Talent Academy for VFX, Screen Ireland is supporting skills development across the sector – and will continue to strengthen relationships with international studios and production partners to drive further growth and career opportunities for Irish companies and creatives.”