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Tax tips

A sampling of newer production incentives and other rebate schemes around the world:

BELGIUM

Under Belgium’s new system, producers may raise up to 30% of a film’s budget through private tax funds as long as they spend 45% of it in Belgium. Key candidates are films with a strong Belgian or European identity. The incentive still must receive final ratification from parliament, but the funds already are operating as if greenlit.

Scope Invest (phone: +322-289-0997); contact: Genevieve Lamal (email: genevieve@scopeinvest.be)

FIJI

Fiji, which recently hosted Sony’s “Anaconda,” offers a 15% rebate (capped at $2.13 million) on local production spend on any audiovisual project. Local spend should be 35% of a film’s costs, unless it is budgeted at $14 million or above. Salaries of nonresidents working on the film also may qualify as local spend. The island has plans to build a studio city allowing tax-free status for individuals and companies working in the AV sector.

Web site: www.fijiaudiovisual.com; phone: +(679) 330-6662; email: favc@fijiaudiovisual.org.fj

FRANCE

To dissuade productions from flocking to neighboring Belgium, the French have introduced a scheme inventively called “bring back production.” Film producers will receive a 20% tax rebate on labor and lab costs from the government as long as the entire shoot takes place in France and employs a local crew. Cap per film is $600,000.

Centre National de la Cinematographie (CNC); phone: +33 (0) 1-44-34-34-40; Web site: www.cnc.fr

ITALY

As plans for an official Italian tax incentive scheme are still pending, Cinecitta Studios has come up with its own sweeteners to bring foreign production to Rome. The include a financial consulting office that can help with gap financing, distribution and co-production; an inhouse line producer who knows how to get the most out of shooting in Italy; free filming on public ground and a 50% reduction in permit fees for historical or archeological sites.

www.cinecittastudios.it; contacts: Carole Andre Smith (email: marketing@cinecittastudios.it) or Christian Halsey Solomon (phone: +39-06-7229-3726; email: christian.solomon@cinecittastudios.it)

SOUTH KOREA

South Korea is introducing plans by which film companies formed after July 1 will receive a 50% reduction in corporate tax for five years. This applies only to companies employing five to 10 people. Existing film companies also might be eligible for tax reductions, though on a smaller scale.

Korean Film Council: phone: +82-2-9587-682; email kslee@kofic.or.kr

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