TAX INCENTIVE to FILM in PORTUGAL FULLY OPERATIONAL
01/03/2017
The incentive offers a refundable tax credit (corporate income tax) of 20% to 25% of the costs of production in Portugal, depending on the characteristics of the project.
This incentive was presented by ICA during the Berlinale and is already in place. Its main goal is to attract international film production offering added value to producers through tax credit.
According to Filomena Serras Pereira, President of ICA’s Board of Directors, this incentive places Portugal "in a very competitive position when compared to other countries that have been attracting major film productions precisely because of the advantageous financial conditions they offer.”
The incentive applies to cinematographic works (feature length) of every type (fiction, documentary or animation), with a minimum production expenditure in Portugal of 1 million euros, covering national productions, official coproductions, de facto coproductions and foreign films (executive production/services).
The Portuguese tax incentive for film production, provided for in the State Budget Act of 2016, has been established by decree-law, approved by the Council of Ministers on 15 December 2016.
According to Filomena Serras Pereira, President of ICA’s Board of Directors, this incentive places Portugal "in a very competitive position when compared to other countries that have been attracting major film productions precisely because of the advantageous financial conditions they offer.”
The incentive applies to cinematographic works (feature length) of every type (fiction, documentary or animation), with a minimum production expenditure in Portugal of 1 million euros, covering national productions, official coproductions, de facto coproductions and foreign films (executive production/services).
The Portuguese tax incentive for film production, provided for in the State Budget Act of 2016, has been established by decree-law, approved by the Council of Ministers on 15 December 2016.