Magazine article Screen International

Colombia Offers New Rebate of Up to 40% for Foreign Productions

Magazine article Screen International

Colombia Offers New Rebate of Up to 40% for Foreign Productions

Article excerpt

Legislation signed during third edition of Bogata Audiovisual Market.

In order to attract foreign film crews, especially from Hollywood, the government of Colombia signed this Wednesday evening a new law on cinema. With a fund of 25 million Colombian pesos (aproximately $14m) per year, the country will offer an attractive cash rebate to productions budgeted at up to $30m.

By hiring Colombian service companies, the producers (domestic and foreign) will be eligible to receive a refund of up to 40% of the cost of production services and up to 20% of the cost of accommodation, transport and catering. The government hopes to attract investments of $42m per year with this initiative.

"With this new filming incentive, our country is introduced as a new destination for film, putting us in competitive conditions in the international market," said Colombian president Juan Manuel Santos [pictured] at the presidential palace (Casa de Nariño), in Bogota. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.