100% write-off proposed
DUBLIN, Ireland — Ireland must increase tax breaks for filmmakers to prevent them from choosing to shoot their pictures in other nearby European countries, the Irish Business and Employers Confederation said on Monday.
Presenting its annual review, the IBEC’s Audiovisual Federation said expenditure on film production in Ireland totaled 85.4 million Irish pounds ($109.4 million) in 1998, the latest year for which figures are available, down from $113.4 million a year earlier.
“In comparison to our European counterparts, particularly Germany, the U.K., Luxembourg, the Netherlands and Spain, we are no longer competitive in relation to incentives for film production,” said Tommy McCabe, Director of the Audiovisual Federation.
McCabe urged the Irish government to allow investors to write off a full 100% of the investment in productions against income tax, rather than the current 80%.