Georgia and Ukraine to bring in tax rebates
Georgia and Ukraine are about to be the two newest countries to introduce their own tax incentives, the aim being help attract more high profile productions to their respective areas.
In Georgia, foreign producers who want the benefits of the new rebate will have to spend a minimum of $300,000 in the country if making a TV series or feature film and $150,000 if filming a documentary. To qualify you at least three days’ shooting must be spent in Georgia.
The new incentive - set to be introduced in 2016 - would equal 20% off the qualifying expenses of the project, with an extra 2% returned if the project promotes Georgian culture or uses local crew. Well known productions to have shot in Georgia include In Bloom (Nana Ekvtimishvili and Simon Groß) and Blind Dates (Levan Koguashvili).
Plans are also afoot for Ukraine to launch a 20% tax rebate but they are currently at a much earlier stage, with no concrete release date currently set.
Furthermore, Ukraine will probably follow suit in joining Creative Europe, with Moldova and Georgia being the two newest members of the initiative. Being a part of the large network allows a much simpler means of communication and business between European nations and their audiovisual sectors. Something Ukraine is seemingly aiming to dramatically improve.
Tibor Navracsics, European Commissioner for Education, Culture, Youth and Sport said on countries joining the initiative: “They will be able to further strengthen the capacity of their cultural and creative sectors by taking part in cultural cooperation projects, literary translation schemes and cultural networks. And as of this year, they will also be able to participate in audiovisual training events and festivals.”