At the Movies

Investors put €100m in Irish films and TV productions last year, taking advantage of enhanced tax incentives for the industry, The Sunday Business Post reports.

The investment under Section 481 cost the exchequer €40.9m in revenue foregone but 46 TV series and 18 films received investment under the scheme during 2009. The number of productions was the highest since 1995.

Under the new regime introduced in 2008 to boost the industry, 100% of a movie’s budget can be offset against tax – up from 80% previously. The amount an individual could invest was also increased substantially.