Revenue has been taking heat from film and TV producers over the administration of the Section 481 tax relief. The scheme, made for movie makers and TV content creators, was moved to a self-assessment system, a move that put the onus on producers to figure out what part of their budget is eligible for tax credit. But they are having trouble with the complex self-assessment, arguing that the system is convoluted. For two years, the industry has been lobbying Revenue to get some clarity over self-assessment. New guidelines were just released yesterday. Will they finally get the happy ending they…
The Star Wars movie, The Last Jedi, received a tax break of between €2m and €3m under the Section 481 tax relief.