In Budget 2024, the Government said it planned to raise the cap on eligible spending on film projects from €70m to €125m.
The Section 481 film tax credit has also been extended to the end of 2028, from its planned end date of December 31st."The increase in the cap on eligible expenditure related to the cost of production of certain films to €125 million signals the Government's intention to support the industry in capitalising on its success in recent years and to make Ireland a global leader in the area of high quality audio-visual production," Michael McGrath said.
"In addition, the extension of the relief provides certainty to the film industry that this important incentive for the sector will be available for a further four years." "I look forward to continued growth and employment opportunities for the Irish film sector in the years ahead." Under the stimulus scheme, relief of 32% is granted on the lowest of eligible spending, 80% of the total production cost or €125m.