New Portuguese Fiscal Incentive Launches at the Berlinale

Portugal's Instituto do Cinema e Audiovisual (ICA) today launched a new national tax rebate for film production at the Berlin film festival.SPI undertook strategic feasibility work for ICA, and Associate Director Leon Forde spoke at the launch of the incentive alongside Portugal's Secretary of State of Culture Miguel Honrado. The Portuguese tax incentive for film production is a refundable tax credit applicable to feature-length cinematographic works with a minimum production expenditure in Portugal of €1 million. The scheme offers a rebate of 20-25% on eligible expenditure and covers national productions, official co-productions, de facto co-productions, and foreign films. There is a rebate cap of €4 million per project. The scheme is expected to be fully operational in early March 2017.