The Israeli government has introduced a new film and TV tax rebate said to be worth around 45 million shekels ($13 million) over two years.

The rebate, which was introduced via a government directive, is worth around 23 million shekels ($6.7 million) in the first year, and 22 million ($6.4 million) the second year.

After two years it will need to be reviewed and renewed.

It is valid for films or series (including documentary projects) with an investment between 500,000 shekels ($145,000) and 16,600,000 ($4.8 million).

Applications must be made through an Israeli production company and applications will be considered by a committee.

Over the last decade or so Israel’s homegrown film and television has exploded internationally, from shows such as “Homeland” and “In Treatment” – adapted from Israeli series “Hatufim” and “BeTipul” respectively – to series such as “Fauda” and “Shtisel.”

Israeli creative talent have also gone on to work internationally, with Maggie Gyllenhaal’s “The Lost Daughter” produced by Israelis Talia Kleinhendler and Osnat Handelsman-Keren, while “BeTipul” creator Hagai Levi recently adapted “Scenes From a Marriage,” starring Oscar Isaac and Jessica Chastain, for HBO.

Now, the country is hoping to lure filmmakers to its shores to boost the local industry as well as encouraging tourism and investment. “Israel has many advantages in the motion picture industry, including geographic proximity between various landscapes, comfortable weather, unique and historical film locations, a good infrastructure of production facilities and services, efficient service systems, skilled professionals and an available pool of film school alumni, and therefore can serve as a hub for the production of foreign films and TV series,” reads the directive.

“We want to thank the Israeli government for agreeing to promote this program,” said Tzvi Gottlieb from the Israeli Producers Association. “Mainly to the Culture, Foreign, Economics, Finance and Tourism ministries, for all their hard work to make this happen. This is a wonderful opportunity for the Israeli creative industry and for producers worldwide, to utilize the great geographic options and talent Israel has to offer. We will be happy to assist anyone who is interested in finding a partner and locations in Israel.”