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A person can apply for tax relief on films if they make investments in a company which is incorporated and resident in the State, solely for the purpose of the production and distribution of only one qualifying film.
| Who can Claim? |
A person who makes investments in a company which is incorporated and resident in the State, solely for the purpose of the production and distribution of only one qualifying film.
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| Conditions to Qualify |
- The film company must be an Irish incorporated and resident company which has been set up for the production and distribution of one and only one qualifying film.
- The individual investor must not be connected with the film production company.
- The film must have a certificate issued by Revenue. .
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| Relief |
Maximum Relief - €31,750.
Minimum Relief - €250.
Both of the above limits subject to 80% restriction.
In any tax year.
Relief is given by way of deduction from total income. Where the full amount of investment cannot be relieved, the excess may be carried forward but not later than 2008.
*Note - Investors can also avail of relief under the BES in the same year. (subject to the € 31,750 limit available under both schemes).
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Email Us: filmrelief@accountantireland.com |
