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.
Calls for tax break to be revisited
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.
Paul Mee, a partner with financial consultants Mazars said the tax break needs to be revisited to incentivise companies to get involved.
"To start, there are clear issues with directors and owners at digital games development companies being exposed to personal liability if tax credits are incorrectly claimed," Mr Mee said.
"This may have been heavily borrowed from concepts that are in film industry legislation but the realities of the film industry are entirely different to the gaming industry for a number of reasons."
"Moreover, the current legislation also requires games to make it to market before relief can be claimed. However, only 10% of games being developed make it to market. Other countries have removed this term from legislation to reflect realities on the ground," he added.
GamerFest
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 sector in Ireland and that there is a major opportunity to grow that number significantly in the coming years.
"At the moment I think we are only scratching the surface because the opportunities around the games industry for Ireland are absolutely immense," Stuart Dempsey, CEO of GamerFest said.
"If you can imagine that the size of the games industry is bigger than the movie and music industries combined it will give you a sense of what is possible.
"We have all the ingredients here in Ireland for a really successful games industry," Mr Dempsey said.
At GamerFest, there will also be opportunities to learn about careers and third level courses in the gaming industry from companies and colleges.
Game studio Black Shamrock has a stand at the convention and will be telling visitors about a scholarship programme that it runs in partnership with Ballyfermot College of Further Education (BCFE) to support study in game design and development.
Elaine Reynolds, General Manager at Black Shamrock, said it is up to industry players to foster and train local talent.
"We do a lot of educational outreach. We have a selection process for our scholarship programme that mirrors the job application process so even people who don't get selected for the scholarship, they have still gone through the process and gained that experience," Ms Reynolds said.
Irish Game Makers' Association
IMIRT, the Irish Game Makers' Association, today announced the appointment of its first CEO.
Colm Larkin will take up the role in June having spent the last 10 years running his own game studio, Gambrinous.
"I am incredibly excited to lead IMIRT as its first CEO," Mr Larkin said.
"Over the last decade, alongside running my own studio, I've dedicated myself to championing the Irish games community both within Ireland and abroad. I look forward to taking that to the next level as part of IMIRT," he added.
IMIRT said that as its CEO, Mr Larkin will work to expand the association's membership base and enhance professional development opportunities.
