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.
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.