Information on finance and tax incentives. Section 35 of the Finance Act provides for investment in qualifying films by companies and individuals. The aggregate of the funds raised by section 35 investments towards the cost of producing the film must not exceed a percentage of the total film budget which varies dependent on the size of the film budget and on the time of the year when filming commences. 7.5m is the current maximum that can be raised under section 35 where principle photography commences in the peak production period of February to September. A qualifying film must be certified as such by the Minister for Arts, Culture and the Gaeltacht, taking into account a range of economic and cultural considerations.
Tax relief is available from the date of commencement of principle photography.
An investment cannot be made in a film company before the Minister for Arts, Culture and the Gaeltacht has indicated to a company that a satisfactory application for certification has been received. Where an exemption is given, Section 35 relief can be raised up to the percentage of the work carried out in the State.