Commencement order signed to enhance Film Tax Credit

The Minister for Finance, Paschal Donohoe has recently signed the Statutory Instrument bringing into effect the changes announced in Finance Act 2024 relating to the Film Tax Credit. The enhancements announced in Finance Act 2024, referred to as the Scéal Uplift, provide for an uplift of 8 percent to the tax credit for small to medium budget feature film productions.

Finance Act 2024 introduced enhancements to section 481 TCA 1997 which provides relief, by means of a corporation tax credit (Film Tax Credit), for the qualifying costs of certain audio-visual productions. The uplift will result in a tax credit rate of 40 percent for feature films for projects with a maximum qualifying expenditure of up to €20 million. As a result of the commencement order, the enhanced relief took effect from 2 May 2025 and is subject to the sunset clause of 31 December 2028 provided for in section 481 TCA 1997.