Possible tax breaks for film productions in Greece
Measures have been introduced by Greece’s Deputy Culture and Sports Minister Angela Gerekou for a dramatic change in tax incentives to entice film productions to shoot in the country.
By Josh Wilson 12 Nov 2014
Measures have been introduced by Greece’s Deputy Culture and Sports Minister Angela Gerekou for a dramatic change in tax incentives to entice film productions to shoot in the country.
The unexpected change proposes giving a 100% tax deduction on the total amount invested in the production within Greece.
If adhered to, the generous motion will involve a tax base reduction, as a large segment of pre-tax revenue invested will not be included in taxable income, as well as a financial gain for the production comparable to the income tax on the amount invested.
The incentive would aim to label Greece as an attractive film destination and bring in a wealth of new international productions.
The changes will apply specifically to Greek productions, international co-productions with Greek producers and Greek companies offering audio-visual services. The country also aims to simplify licensing procedures for filmmakers.
If adhered to, the generous motion will involve a tax base reduction, as a large segment of pre-tax revenue invested will not be included in taxable income, as well as a financial gain for the production comparable to the income tax on the amount invested.
The incentive would aim to label Greece as an attractive film destination and bring in a wealth of new international productions.
The changes will apply specifically to Greek productions, international co-productions with Greek producers and Greek companies offering audio-visual services. The country also aims to simplify licensing procedures for filmmakers.
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