S.L. 463.29 Art. 5Financial Support.

(1) The maximum support per single undertaking may not exceed two hundred thousand euro (€200,000) over a period of three (3) running years.

(2) The support granted by the Corporation shall be calculated as a percentage, not exceeding thirty per cent (30%) of the qualifying costs incurred for the development of the video game as established in the Guidelines.

(3) The Corporation may award assistance under these regulations in the form of a tax credit or cash grant.

(4) A cash grant awarded shall not exceed twenty per cent (20%) of the total assistance awarded in terms of any single approval under these regulations.

(5) The tax credit referred to in these regulations shall be due as a deduction from tax payable by an undertaking on its chargeable income derived from the profits generated from the supported video game for that year of assessment established in accordance with the terms and conditions set out in the Guidelines, and, where the tax credit, for that year of assessment, exceeds the income tax payable on chargeable income derived from the profits generated from the supported video game by such an undertaking for that year, the excess in the tax credit shall be allowed to be carried forward to the subsequent year of assessment and deemed to be a tax credit for that year.

Provided that any tax credit not utilised by the third consecutive year of assessment from the year of assessment when the tax credit is first due shall not be carried forward to any subsequent year and shall hence be forfeited.

Provided further that the tax credit shall not give rise to a right to a refund of tax.