Finance Act 2014

Amendment of section 481 of Principal Act (relief for investment in films)

24. (1) Section 481 of the Principal Act (as amended by section 21 of the Finance Act 2013 ) is amended—

(a) in subsection (1), in paragraph (b) of the definition of “qualifying company”, by deleting “and distribution”,

(b) in subsection (2A)—

(i) in paragraph (b) —

(I) in subparagraph (ii) by inserting “, any company controlled by the producer company” after “qualifying company” where it first occurs,

(II) by deleting “or” before subparagraph (iii),

(III) in subparagraph (iii) by substituting “€125,000, or”, for “€200,000.”, and

(IV) by inserting the following after subparagraph (iii):

“(iv) the total cost of the production of the film is less than €250,000.”,


(ii) by substituting the following for paragraph (c):

“(c) Nothing in this section shall be construed as obliging the Revenue Commissioners to issue a certificate under paragraph (a).”,


(c) in subsection (2C)—

(i) by substituting the following for paragraph (a):

“(a) unless the company, in relation to a qualifying film, following the date on which an application has been made under subsection (2A) (d), notifies the Revenue Commissioners in writing within 7 days of the first incurring of expenditure to which subsection (2A)(g)(iv) refers.”,


(ii) in paragraph (g)(i) by deleting “and distribution”.

(2) This section comes into operation on such day as the Minister for Finance may appoint by order.