Archive for March 26th, 2009

481 Capped at 50 Million

26th March 2009

According to IFTN amendments to Section 481, which regulates Irish film taxation, have been approved following the signing of a Commencement Order by Irish Minister for Finance Brian Lenihan.

The amendments are to increase the cap per project to €50 million (from €35 million), the individual investor cap for those wishing to invest finance in film in Ireland will increase to €50,000 per annum (up from the current limit of €31,750) and there will be a 100% relief on that investment – previously the relief was at 80%.

Martin Cullen, TD, Minister for Arts, Sport and Tourism welcomed the move; he said:

“The film and T.V. production industry is a fast moving and competitive global one. Ireland has now done what is essential to remain competitive in this crucial high-end inward investment industry. The investment pipeline for this year is promising and I believe that these adjustments to the tax investment regime will be the catalyst in securing those opportunities for Ireland.”

Minister Cullen added: “The film industry is the cornerstone of a smart and creative digital economy and with today’s announcement Government acknowledge its importance at this crucial time in our economic story. I believe that the provision will sustain and grow employment in this sector in the years ahead, grow our production capacities and help to embed this key creative industry. I encourage an Bord Scannán na hÉireann/the Irish Film Board and the sector, to spearhead a major drive to deliver on this initiative.”

EIF 2009

26th March 2009

The Stage reports that the Edinburgh International Festival has announced its programme for its 63rd festival, which will run from the 14th of August to the 6th of September.

In choosing the 75 productions for his third festival as EIF director, Jonathan Mills has taken the Scottish Enlightenment as his main theme, while including nods to the many classical composer anniversaries which are being celebrated this year – as well as Scotland’s year of Homecoming.

“The Enlightenment for me, very personally, is a point of departure only,” Mills explained to The Stage. “It is a phrase I am using both metaphorically and quite literally. So I am searching for things that have been enlightening from Scotland and I am recognising the enlightenment as a movement that was able to be created here.”