Wicklow-based movie group got €63m in tax credits from Revenue

A Wicklow-based movie group has received corporation tax credits totalling €63 million from the Revenue Commissioners over the past two years.

New accounts filed by Metropolitan Films International Ltd and subsidiaries show that the group last year received corporation tax credits of €25.48 million under section 481 relief.

The tax credits received last year went towards the production of series six of Vikings and series three of Into the Badlands.

The accounts show that revenues at the business last year increased by 36 per cent from €90 million to €122.6 million.

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The business is led by Ronan Flynn and James Flynn of Octagon Films which made Love/Hate and The Borgias.

Staff costs at the business last year totalled €39.79 million. The average number of employees of the group for the year was 1,287 compared to 786 in 2017 The corporation tax film credit of €25.47 million resulted in the firm recording a modest post tax profit of €48,131.

The €25.48 million received in corporation tax credits last year represent a sizeable portion of the movie and TV production tax credits paid out last year by Revenue.

According to Revenue figures, productions firms last year lodged claims seeking corporation tax credits totalling €95 million – double the amount claimed in 2016.