-2.7 C
Bucharest
January 24, 2022
BUSINESS BUSINESS COMPANIES ECONOMY

Dentons launches ‘Producing in CEE’, a guide to financial and tax incentives for film, television and interactive digital media production

Global law firm Dentons has launched Producing in CEE, the second guide in its series dedicated to film, television and interactive digital media incentive programs.

Romania has introduced the Film Support Scheme, a program intended to support the growth of the local film industry and its international competitiveness. With an annual budget of approximately €50 million, the local Scheme takes the form of state aid granted.

Producing in CEE guide by Dentons provides an overview of cash rebates, tax allowances and other available financial incentives for audiovisual production in Romania, the Czech Republic, Hungary, Poland and Slovakia and the criteria that must be satisfied to qualify for them.

Central and Eastern Europe (CEE) has become a popular film production destination thanks to its experienced film crews, diverse filming locations in close proximity to each other, and much lower production costs when compared to the US or Western European countries. Over the last decade, Hungary has become the second most popular European filming destination after the United Kingdom, while demand for Romania is rising. Dentons lawyers in Bucharest have the experience to support our clients build their long-term plans to strengthen the national film production landscape.

The financial incentive schemes in CEE continue to evolve, as countries vie to make themselves more competitive. Through cash rebates and other financial incentives, governments try to attract regional and international crews to film in their countries. Government-based production grant systems in these countries are eligible for both local and international producers, provided that they work with local partners – acting both as majority and minority co-producers or under a works-for-hire system.

Related posts

Gov’t obtains necessary European funds to implement integrated IT system for the processing of civil registry documents. 100-year-old documents will also be digitalised

Nine O' Clock

Romanian EcoMin Costin Borc discusses in France ways to boost cooperation on defence, SMEs, exports

Nine O' Clock

Government cleared the debt of CFR Marfa

Nine O' Clock