Historic $13m tax abatement for Israeli TV and film goes ’90th minute’ before government falls – The UBJ

0

This week, a landmark NIS 45 million ($13 million) tax break for Israeli television and film companies was enacted just before the government fell.
The refund, which was first announced late last year and is valid for two years after approval, would give productions made for a minimum investment of NIS 500,000 ($145,000) 30% of the budget . In the first two years, he is worth a total of 45 million shekels ($13 million).
An Israeli production company can help with funding, which will only be granted for TV series, films and documentaries.

The Israeli film industry has produced some of the world’s most acclaimed dramas, such as Fauda and Shtisel. The production sector has long longed for a boost, comparable to the incentives that have revolutionized local production in countries like the UK. The legislation is the result of the cooperation of five different ministries, according to Tzvika Goldman, CEO of the Israel Producers Association, and it was passed “90 minutes before the Israeli parliament dispersed”.
However, the collapse of the government, which could trigger a fifth Israeli election in just three years and open the door for Benjamin Netanyahu to run again, has halted efforts by Israeli producers to tighten rights and regulations.

In April, Deadline reported that the IPA was working on legislation that would have changed the game. This would have required streamers to order a certain amount of local content, in line with European countries like France, and would have allowed producers to retain 50% rights to their programs. Following this, Netflix launched a charm offensive in late May, sending Larry Tanz, vice president EMEA and head of original series, to the country for five days to meet with actors, executives and major backers.
The review of the legislation will now have to await the formation of the new administration.

Share.

Comments are closed.