Wild Atlantic Pictures Ltd, the Irish production firm behind the successful Hollywood horror comedy Cocaine Bear, received corporation tax credits of €2m to €5m from the Revenue Commissioners, according to recent figures. The film, which grossed over $89m at the global box office, was loosely based on the true story of a bear in 1980s Georgia that consumed a large amount of cocaine dropped by a drug smuggler’s plane. Scenes were shot in Wicklow, with Powerscourt Waterfall and Avoca Mines serving as locations for the US wilderness. The production was one of several to receive Section 481 tax credits in the first half of 2023.
Sharon Horgan’s acclaimed Bad Sisters, set in Dublin and featuring Eve Hewson and Sarah Greene, also secured movie and TV production tax credits of between €2m and €5m. The show won four IFTAs and two BAFTAs, including Best Drama series. The original title of the drama was Emerald, and Merman Television (Dublin) Ltd obtained tax credits for the show under this name. Another notable production, Season 3 of the Netflix hit Valhalla, received tax reliefs of between €10m and €30m. Irish Wish, a fantasy romantic comedy starring Lindsay Lohan and Jane Seymour, received tax relief of €2m to €5m. The film, which was filmed in Dublin, Wicklow, and Westport, is set to be released next year.
Additionally, Sand & Stones, starring Nicolas Cage and shot in Dublin and Wicklow, secured corporation tax credits of €1m to €2m. Element Pictures Productions Ltd, known for their award-winning work, received tax credits of between €2m and €5m for their psychological thriller The Wonder, starring Florence Pugh. In total, Revenue paid out €79m in Section 481 claims to production companies for the first half of this year, compared to €55m for the same period last year.
Please note that these figures include a combination of first installment claims and final balancing claims made upon completion, and they may cover projects certified over multiple years.
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