Ireland Revenue has issued updated guidance on the country's Film Relief Scheme, which is amended as of 1 January 2015, including a larger credit and expanded eligible expenditures. Under the scheme, the rate of relief (payable tax credit) granted is increased to a 32% of the lowest of the following:
- Eligible expenditure
- 80% of the total production cost of a film
- €50 million
General conditions for eligibility include:
- At least €250,000 must be spent on the production with at least half th…