Iceland, an island nation on the edge of the Arctic Ocean, offers some of the planet’s most breathtaking natural wonders, which many producers have used as spectacular backdrops for their movies. Its black sands have even doubled for the South Pacific in Clint Eastwood’s “Letters From Iwo Jima.” And Iceland’s 25% rebate on qualified expenses make the trip worthwhile.
In order to take advantage of the incentive, producers who travel there to shoot are required to engage the services of a local production company and must pass a cultural test. The program has no annual cap but will end on Dec. 31, 2021, unless the government extends it.
The reimbursements cover 25% of the production costs incurred in Iceland. Payments pertaining to employees and contractors are only to be included in production costs if they are verifiably taxable in Iceland. Applications must be submitted before starting the production.
|25%||Rebate on qualified expenses|
|0||Annual program cap|
|12/31/21||Incentive program expiration date|
|Information courtesy of EP Financial Solutions, a production incentive consulting and financial services company.|
Projects recently shot or now shooting in Iceland include: “Justice League” (2017), “The Fate of the Furious” (2017), “Money Monster” (2016), “Rogue One: A Star Wars Story” (2016), “Captain America: Civil War” (2016), “Star Wars: The Force Awakens” (2015), “Prometheus” (2014), “Game of Thrones” (began shooting in 2011) and “Sense8” (began shooting in 2015).
Information courtesy of EP Financial Solutions, a production incentive consulting and financial services company.