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| New Tax Benefits to Investors in Israeli Movies |
| Last Modified at:04-Nov-2009 |
The benefit also covers commercial TV channels and the cable TV franchise-holders, which will benefit from full deduction for tax purposes of their investment in Israeli cinema movies.
The regulations were submitted by the Finance Minister, Dr. Yuval Steinitz to the Knesset Finance Committee which approved them. The regulations are based on the recommendations of a committee appointed by the Finance Ministry Director-General, Yarum Ariav, and chaired by the State Revenue Commissioner, Frieda Yisraeli CPA.
The new regulations abolish the ceiling that was determined in the past for the deduction of investment in Israeli movies – a benefit ceiling that amounted to 40% of the investor’s income. In addition, the regulations stipulate that the tax benefit will also apply to production expenses abroad, to a level of up to 15% of the amount of expenses in Israel.
Under the regulations, tax benefits will be granted to individual investors, production companies and to movie production collaborations. The new regulations include a fast “green channel” free of red tape whereby a party choosing to invest in Israeli movies and their production will benefit from full deduction of expenses for tax purposes, at the level of the investment in a movie and in accordance with the tax rate applying to the investor.
Finance Minister Dr. Yuval Steinitz expressed his hope that the new tax benefits will encourage the high quality movie industry in Israel, as well as the creation of a new fund for source productions and movies in cooperation with the TV channels in Israel.
 Finance Minister’s Proposal Approved – New Tax Benefits Will Be Granted to Investors in Israeli Movies
Israel Film Industry
Investing in Israel at the gov.il portal
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