Press releases

Budget 2022: Deloitte comments on digital gaming sector tax credit

Tax credit should have similar impact as R&D tax credit and film reliefs in driving growth

Ireland has long been established as a leading place for investment from technology companies and is home to many of the world’s leading computer hardware, software and social media businesses. The introduction of a digital gaming sector tax credit is the next step in Ireland’s journey towards an innovative and knowledge-based economy, and the Minister’s announcement on Budget Day is a welcome development.

Commenting on the measure, Caroline O’Driscoll, Tax Partner, Deloitte commented:

The announcement from the Minister of a digital gaming sector tax credit will leverage off the well-established Irish film and animation sectors. The global gaming industry is estimated to be worth over €100 billion, with the Minister acknowledging that employment in this sector in Ireland has not matched global trends. The digital gaming credit will be available at a rate of 32% on eligible expenditure up to a maximum limit of €25 million per project. We know from past experience with the Research and Development tax credit and indeed film tax relief how valuable such targeted measures can be - the R&D incentives in Ireland are, in part, credited with assisting in developing a strong presence in manufacturing and pharmaceuticals, while the film tax relief has helped in growing employment significantly since its introduction. Building on that success, the introduction of a tax credit to encourage growth in digital gaming is a welcome development for the media industry in Ireland.

Ends

Issued by Murray on behalf of Deloitte Ireland

For Further Information Please Contact

Orna Clarke
Murray
01 498 0300
087 677 0360
oclarke@murraygroup.ie

Claire Quinn
Deloitte
087 977 7783
cquinn@deloitte.ie

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