The Minister for Finance has recently published a consultation paper which sets out preliminary analysis and data and invites interested parties to make submissions as part of an economic impact assessment of the operation, status and future development of the Section 481 tax relief otherwise known as ‘film relief’.

The impact assessment will enable the Department of Finance to better understand the benefits that may accrue to the exchequer in terms of additional tax yield as well as consequences for investors, the audiovisual industry, and the wider economy arising from potential changes to the relief which is current set to continue until 2015. The period of public consultation will run from 28 May to 31 July 2012.