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No tax credit claims so far for digital games sector

There have been no claims as of yet for a tax credit launched in 2022 for the video game sector.

A number of applications have been made by gaming companies for certification to allow them to claim the credit and a number of certificates have been issued.

However, so far no companies have made a claim in their corporation tax returns in order to avail of the credit.

“The Department has been advised by Revenue that there have been no claims for the tax credit for digital games as of yet,” a spokesperson for the Department of Finance said.

“The development of a digital game can be a multi-year process, therefore some claims may not come in until a project is complete.

“In addition, the current situation in relation to claims is not unexpected when it comes to the introduction of a new relief into the tax system,” the department said.

The Digital Gaming Tax Credit offers companies developing digital games a tax credit of up to 32% per qualifying game.

The measure was launched by the Department of Finance and the Department of Tourism, Culture, Arts, Gaeltacht, Sports and Media in November 2022.

It is estimated that Ireland’s digital gaming sector could be worth around €250 million, but games developed in Ireland account for a small portion of this figure.

This weekend, gaming enthusiasts and industry leaders will gather at Dublin’s RDS for GamerFest.

Around 6,000 visitors will attend the event to experience the latest games and meet special guests from the industry.

Organisers say that around 2,000 people are currently employed in the gaming industry in Ireland and that there is a major opportunity to grow that number significantly in the coming years.

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