New guidelines on tax relief for investment in films by companies may be of assistance to members advising corporate clients involved in film production or members who themselves are producing films through a company. The guidelines together with Film Regulations 2015, (S.I. No. 4 of 2015), set out details of the relief and the conditions to be satisfied.

The guidelines published by Revenue contain detail on the relief, how to qualify and claim the relief, specific Revenue requirements and books and records to be maintained.

Further provisions are included in the Film Regulations 2015, (S.I. No. 4 of 2015) made by the Revenue Commissioners. The Film Regulations are made under section 481 TCA 1997 (as amended by Finance Act 2014) and replace Film Regulations 2008 (S.I. No. 357 of 2008). A copy of the Regulation are available on the Revenue website.

Guidelines on the Film Withholding Tax, a withholding tax on relevant payments made by companies who qualify for the section 481 film tax credit, are also available on the Revenue website.