PresseBox
Pressemitteilung BoxID: 496029 (ECOVIS AG Steuerberatungsgesellschaft)
  • ECOVIS AG Steuerberatungsgesellschaft
  • Ernst-Reuter-Platz 10
  • 10587 Berlin
  • http://www.ecovis.com
  • Ansprechpartner
  • Ulf Hausmann
  • +49 (30) 310008-54

Support for the Czech Film Production

Since the Czech movie sector is going well, there was a program introduced to guarantee financial support for the film production in the Czech Republic.

(PresseBox) (Berlin, ) The Czech Republic is known as a film-friendly country. A number of large film productions have taken advantage of the Czech Republic’s picturesque countryside and historical landmarks. To enhance this reputation, the Czech Film Industry Support Program is being launched for 2012. The Czech Film Industry Support Program offers a 20% rebate on any qualifying Czech expenditure and 10% on qualifying international expenditures. Costs which qualify as Czech expenditures are goods and services provided in the Czech Republic and paid to companies or individuals registered to pay income tax in the Czech Republic. Costs paid to individuals who pay withholding tax in the Czech Republic but are not registered to pay income tax may qualify as international expenditures. To qualify for the rebate, projects must pass a cultural test for European cultural and production criteria. Projects must reach a minimum expenditure of CZK 15m (approximately EUR 600,000) for cinematic feature films and TV films or CZK 3m (approximately EUR 120,000) for cinematic documentaries. Eligible expenditures may not exceed 80% of a project’s total budget. Eligible costs are those connected exclusively to the project and do not include the purchase and depreciation of assets, costs associated with the development of a storyline, expenses related to intellectual property rights, financing expenses, distribution and marketing, per diem allowances for foreign crew, customs duties or VAT. The support program has CZK 100m (approximately EUR 4m) available to disburse in 2012. Grants are awarded to qualifying projects on a first-come, first-served basis. There is no cap on the amount of grant per project. Rebates are issued at the end of production upon submission of audited statements of costs incurred and paid out in the form of cash grants. Only registered Czech income tax payers with a place of business in the Czech Republic may apply for the grant in the final stage. International producers may partner with a Czech co-producer (which becomes the applicant) or establish and apply through a Czech subsidiary.

Author: Milos Fiala, milos.fiala@ecovis.com
ECOVIS blf s.r.o., Prague, Czech Republic
http://www.ecovis.com/...

ECOVIS AG Steuerberatungsgesellschaft

Ecovis is a leading global consulting firm with its origins in Continental Europe. It has over 3,800 people operating in over 43 countries. Its consulting focus and core competencies lie in the areas of tax consultation, accounting, auditing and legal advice.
The particular strength of Ecovis is the combination of personal advice at a local level with the general expertise of an international and interdisciplinary network of professionals. Every Ecovis office can rely on qualified specialists in the back offices as well as on the specific industrial or national know-how of all the Ecovis experts worldwide. This diversified expertise provides clients with effective support, especially in the fields of international transactions and investments - from preparation in the client's home country to support in the target country.
In its consulting work Ecovis concentrates mainly on mid-sized firms. Both nationally and internationally, its one-stop-shop concept ensures all-round support in legal, fiscal, managerial and administrative issues.
The name Ecovis, a combination of the terms economy and vision, expresses both its international character and its focus on the future and growth.
www.ecovis.com