Magazine article Variety

DOMINICAN REPUBLIC: Impending Studio Facil, Tax Break Prove Magnets

Magazine article Variety

DOMINICAN REPUBLIC: Impending Studio Facil, Tax Break Prove Magnets

Article excerpt

Global Update: South America

Filmmakers are chomping at the bit for the Pinewood Indomina Studios in the Dominican Republic to open. Set on 35 acres, phase one of this massive, state-of-the-art film and TV facility and its 55,000 sq. ft. beachfront water tank are slated to open in a few months.

Meanwhile, some international pics have already been shooting in this tiny Caribbean nation, spurred by the 2011 introduction of a 25% transferable tax credit on all above- and belowthe-line eligible expenditure. This applies to both local and foreign film and TV productions spending a minimum of $500,000 on qualified production expenditure such as equipment, services and labor as well as the above-the-line costs. These are also exempted from Value Added Tax and custom duties.

The Dominican Republic established a film commission, led by Ellis Perez, soon after passing the cinema law and its tax incentives.

New vendors have sprung up in anticipation of Pinewood Indomina Studios' opening. "We've been able to take advantage of these new services," says original "Cabin Fever" producer Evan Astro wsky of Hypotenuse Pictures. …

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