IE
S.I. No. 357/2008 - Film Regulations 2008
Table of Provisions (23)
Statutory Text (23 Articles)
1. Evidence that the film has been shown in a commercial cinema or television or has been commercially distributed in DVD or Video format.
2. A copy of the film in DVD or VHS PAL format or such other format as may be specified in the certificate issued by the Revenue Commissioners in relation to the film.
3. A report by the qualifying company’s auditors for the purposes of the certificate issued under section 481 of the Act, which includes—
(
a
) details of the amount of money expended directly in the State on the employment of eligible individuals and on the provision of eligible goods, services and facilities, itemised in accordance with the top sheet production expenditure summary,
(
b
) details of the amount of the entire production expenditure on the qualifying film, itemised in accordance with the top sheet production expenditure summary,
(
c
) a statement—
(i) of the amount raised by the qualifying company under section 481 of the Act,
(ii) that the amount raised by the qualifying company under section 481 of the Act, was expended by the qualifying company on—
(I) the employment of eligible individuals and,
(II) the provision of certain goods, services and facilities, as set out in these Regulations,
as required by the certificate issued by the Revenue Commissioners to the qualifying company, and
(iii) that the amount raised by the qualifying company under section 481 of the Act, was not in excess of the amount of relevant investments specified in the certificate issued by the Revenue Commissioners under section 481 of the Act, to the qualifying company,
(
d
) details of any outstanding creditors or any other amounts due by the qualifying company at the date of the auditors’ report,
(
e
) in a case where a payment of an amount equal to at least 30 per cent of the relevant investments was made by the qualifying company to any person or to a group of 2 or more persons, who are connected (within the meaning of section 10 of the Act) with each other, details of
(i) the identity of that person or persons;
(ii) the nature of the goods, services or facilities provided by that person or persons to the qualifying company; and
(iii) the amount or amounts paid to that person or persons;
(
f
) details of any foreign currency rates used,
(
g
) details of any related party transactions in accordance with generally accepted accounting principles,
(
h
) a statement that no significant relevant events have occurred since the date notified to Revenue, in accordance with Regulation 10, which would alter, to any material extent, the figures or confirmations contained therein, and
(
i
) the date upon which the completed qualifying film is first delivered to any financier or distributor of the qualifying film.
4. Details of the source of all amounts used to finance the entire production expenditure on the qualifying film, including any payments to allowable investor companies or qualifying individuals in respect of relevant investments.
The Minister for Arts, Sport and Tourism consents to the making of these Regulations, insofar as they relate to the matters to be considered regarding the issue of authorisations under subsection (2) of section 481.
GIVEN under the Official Seal of the Minister for Arts, Sport and Tourism,
3 June 2008
MARTIN CULLEN.
Minister for Arts, Sport and Tourism.
The Minister for Finance consents to the making of these Regulations.
GIVEN under the Official Seal of the Minister for Finance,
8 July 2008
BRIAN LENIHAN.
Minister for Finance.
GIVEN under my hand,
2 September 2008
JOSEPHINE FEEHILY.
Revenue Commissioner.
EXPLANATORY NOTE.
(This note is not part of the Instrument and does not purport to be legal interpretation)
Film Regulations 2008
These regulations which are made by the Revenue Commissioners under the provisions of
section 481
of the
Taxes Consolidation Act 1997
, deal with certain administrative arrangements, which are already provided for in Guidance Notes issued in October 2005 and July 2006. The Regulations give legal certainty to Revenue’s practice of requesting additional information and for the provision of more detailed certification by the auditors of the qualifying company.
The changes provide for, among other things, amending the requirement to submit an application under
section 481
of the
Taxes Consolidation Act 1997
of 7 days in advance of the earlier of—
(
a
) the commencement of the raising of relevant investments, or
(
b
) the commencement of principal photography, the first animation drawings or the first model movement, as the case may be,
to 21 days.
These regulations replace Film Regulations 2004. They apply to applications made on or after 12 September 2008.
5. Tab E Synopsis of Film.
6. Tab F Completed Screenplay, Sample Television Scripts or Storyboard.
7. Tab G Production Schedule.
8. Tab H Screenplay and Writers’ Agreements and Option Agreement.
9. Tab I Production, Financing and Distribution Agreement.
10. Tab J Production Budget, including—
(
a
) a top sheet production expenditure summary,
(
b
) details of each element of expenditure that may be accepted by the Revenue Commissioners as expenditure on the production of a qualifying film, including details of any such expenditure incurred—
(i) directly in the State on the employment of eligible individuals, and
(ii) on the provision of eligible goods, services and facilities.
11. Tab K Confirmation that no agreements, arrangements or understandings exist or are proposed that would impact on investor risk.
12. Tab L Appendix A — Schedule of Fees.
13. Tab M Letters of intent and, if applicable, letters of commitment from sources of funding other than relevant investments.
14. Tab N Pre-Sales and Distribution Agreements.
15. Tab O Completion Bond Contract, if applicable.
16. Tab P Appendix B — Person Hours Schedule.
17. Tab Q Full List of Heads of Departments.
18. Tab R Other relevant agreements and documentation.
19. Tab S A diagram detailing all the parties involved, their respective responsibilities and the flow of funds between them.
20. Tab T Details of any issues that might impact on the conditions for relief under section 481 of the Act.
21. Tab U Where any agreements requested above are unavailable at the time of application, an outline of the proposed agreements, including details of the purpose of each agreement.
22. Tab V Confirmation that no financial arrangements of a type referred to in section 481(2C)(
b
) of the Act exist or are proposed.
SCHEDULE 2 Categories of films eligible for certification by the Revenue Commissioners
S.I. No. 357 of 2008
FILM REGULATIONS 2008
ARRANGEMENT OF REGULATIONS
PART 1
General