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FINANCE MINISTER Michael Noonan has ordered a review into the tax relief scheme for the film and TV industry in order to examine whether it should be extended to the video game industry.
The review comes after the British government announced a tax credit for the profits of video game and animation companies in its Budget last month, in an attempt to lure both industries to the United Kingdom.
Tax relief for the indigenous film sector – known as ‘Section 481′ – was introduced in 1987, and will remain in place at least until 2015 under legislation attached to the 2011 Budget.
“The scheme makes a positive contribution to the development and sustainability of the Irish film and screen industry, which supports a significant number of jobs in the local economy and contributes to cultural tourism initiatives,” Noonan said.
In response to a parliamentary question tabled by FG backbencher Seán Kyne, Noonan said 58 projects qualified for the scheme in 2011, supporting over 15,000 jobs between cast, crew and extras.
Those productions “had the effect of maintaining and creating jobs in a very difficult climate, while at the same time producing a product that will help to sell Ireland abroad”, Noonan said.
A review of the credit, and whether it may be extended to other industries, has now been ordered and will be carried out later in the year.
“I do not intend to make any major adjustments to the scheme prior to the completion of this review,” the finance minister said.
The British Budget unveiled by George Osborne last month included corporation tax reliefs for the video games, animation and high-end TV industries from 2013, ”as part of a new ambition to make the UK the technology hub of Europe”.
Ireland is known for its strong performance in the video games industry; a Forfás report last November suggested the sector supported 2,000 direct jobs in Ireland, and 11,500 people indirectly employed by the industry.
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Dont think about it. Do it!! Make it Fxxxxn tax free if it creates jobs! Cause you’ll make on their income tax and the money they spend into the local economy. Its a no brainer
Just do it.
The gaming industry is worth 10 times more money the the film industry.When you have the likes of call of duty franchise spending 6 million dollars on advertising and knowing they will recover it with sales goes to show how much gaming companies make.It’s a no brainer for the government.Just do it and get them in.There’s plenty of talent here to produce and make these great games.
Each call of duty modern warfare title has earned more than the top grossing movie of all time (avatar for those who didn’t know). So 6 million in advertising for games that bring in close to 2 billion in revenue each? I’d revise that figure if I were you.
Modern Warfare 3 is the top grossing entertainment title ever made including films.
Battlefield 3 is better though ;)
Do it! That is the problem with Irish politics… It always becomes a talk shop. We said we were going to get this that and the other out of the Olympics but in reality we got shit all.
Take the finger out and do it before it’s too late. We need to be competitive.
Massive money in games! Get it done
Isn’t that the scheme that was introduced to enable all the small companies to set up as sub contractors to RTE making small documentaries and allowing all the top earners become sole traders.
Would love to see a bit of innovation from the government in regards to coming up with policies which may help the economy…
Instead all we get is “oh this is what they are doing in Sweden” or “let’s look and see what the British are doing”
And then by the time they get around to it the ship has sailed and it’s too late!
FUC* OFF AND STOP TAXING EVERYTHIN…:…… FINE TRAITOR TAEL
TAXING FUN…..YOU SCUMBAGS…SCUMBAGS…..
Noonan you muppet – do it and stop messing about as usual
They do something similar in France as well and have done so for years . This would be a huge help to developing a proper Irish gaming industry. There are already a bunch on indie developers out there. We also have some great Game dev/design courses on the go producing smart and creative people who for the most part would rather stay here to work . Also we should look at how Scotland has developed a very profitable games industry and apply the same principles here!
have your say