Revenue introduces new regulations on Film Relief
The Revenue Commissioners have made Regulations governing the scheme of Film Relief (Section 481 of the Taxes Consolidation Act, 1997). Under the provisions of Section 28 Finance Act, 2004 (which recently came into operation after an Order was made by the Minister for Finance) all applications for a certificate in relation to a film on or after 1 January 2005 must be made to the Revenue Commissioners. Before any certificate is issued the Minister for Arts, Sports and Tourism must issue an authorisation to the Revenue Commissioners that the film involved is within certain eligible categories and satisfies certain criteria.
The new regulations set out the detail of the new administrative arrangements, specifically:
- The categories of films eligible for certification and the criteria to be considered by the Minister for Arts, Sports and Tourism when issuing an authorisation.
- The requirements of the Revenue Commissioners in relation to various matters, including:
- Information and documentation to be submitted
- The types of records a qualifying company must provide as evidence in relation to expenditure on a film
- The items to be included in a compliance report in relation to a film
- The type of expenditure on the production of a film which may be accepted by the Revenue Commissioners and what qualifies as "eligible goods, services and facilities" for the purposes of the relief.
Further guidance notes on the new certification procedures together with the application are also available on the Revenue website.
Ends 23/12/04