Parliament has approved a measure which is intended to increase Iceland’s competitiveness in the global film industry, by raising the rebate to film producers.
Vísir reports that parliament has approved a measure raising the production rebate from 20% to 25%. In addition, the rebate system will be extended another five years and made simpler.
It is hoped that providing these economic incentives will attract more foreign movie-makers to choose Iceland as a shooting destination. At the same time, domestic producers are also pleased.
“We are extremely pleased about the decision to increase the rebate from 20 to 25 percent,” Sagafilm CEO Guðný Guðjónsdóttir told us in a written statement. “The rebate system has been a major incentive in attracting large feature films and other projects to the country, including projects such as Interstellar, The Secret Life of Walter Mitty, Noah and numerous others. The rebate system also plays a major role in domestic production. With the international success of Icelandic TV series such as Case and Trapped, it facilitates the financing of future projects and strengthens the industry as a whole.”
As such, we may be able to expect an increase in film production at locations all over the country.