Government officially launches new digital games tax credit

Aimed at encouraging projects that contribute to a varied cultural landscape, the scheme will be open to digital games development companies, with up to €8 million in tax credits per beneficiary, who must be liable for taxation in Ireland.

Under the scheme, which will run until December 31st, 2025, the maximum amount of the tax credit will be equal to 32 per cent of eligible costs, expenditure must be incurred on the development of a digital game spent in the European Economic Area, and 80 per cent of total expenditure incurred on its development or €25 million, whichever is lowest.

The regulations will be signed by the chairman of Revenue, which will allow digital games development companies to apply for an interim certificate for a qualifying digital game, with applications for remuneration expected to begin from January 1st 2023.

Source: Loan Digest (loandigest.net)

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