Having obtained EU approval under EC Treaty state aid rules, the provisions in Finance Act 2006 extending film relief are to have a commencement date of 18 May 2006.

The Irish scheme to support film production, which amends an earlier scheme previously approved by the Commission, allows film production companies to obtain 80% tax relief on investments of up to €35 million or 80% of the production budget of a single film. The Commission concluded that the amended scheme is also compatible with Article 87(3)(d).

This has cleared the way for a commencement order for Finance Act 2006 s18, which amends TCA97 s481. The order is reproduced at 2.04 below.