Ireland is trying to take over the film industry with new tax beaks for producers and production companies.
According to recent reports, Ireland is attempting to tap into the TV and Film industry with a new program called “Section 481.
From The Wrap:
Ireland’s new tax breaks under “Section 481″ are aimed at luring Hollywood film and television productions overseas, Arts Minister Heather Humphreys announced on Thursday.
Under the new guidelines, which kicked in on Jan. 1, the definition of an “eligible individual” has been extended to include non-E.U. talent. Essentially, this inclusion is meant for those stars currently living in the Los Angeles area to find their way to the North Atlantic island.
The tax incentive will apply to feature films, TV drama, animation and documentaries. Currently, 6,000 people are employed in the entertainment industry in Ireland. But, Ireland will be facing a ton of competition as Georgia continues to grow in the number of production studios, and Canada’s possible tax breaks for the film industry.
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