Finland will offer a 25% cash rebate for foreign productions
by Jorn Rossing Jensen
- The Finnish government will early next year introduce an incentive scheme to attract foreign film and TV productions to shoot in the North
Following the lead of Iceland and Norway, Finland will become the third Nordic country to implement a cash-rebate incentive scheme to attract international film and TV productions. After the annual workshop where the state budget is balanced, the government announced on Friday 2 September that from early next year, foreign producers would be allowed a 25% reimbursement of their expenditure when working in Finland.
“This arrangement will make Finland a highly competitive candidate for the shooting of major international productions,” said Finnish Minister of Economic Affairs Olli Rehn. “Our beautiful and versatile landscape, together with a good infrastructure and a skilled work force, is a combination that few others can match.”
The initiative follows a proposal outlined by a Culture Ministry task force earlier this year, which has since been strongly lobbied by organisations within the audiovisual industry. When approved, it will be one of the most profitable programmes of its kind in the Nordic countries, with funding from the Ministries of Economic Affairs/Employment and Education/Culture.
“I firmly believe that the incentive will work as an overall booster for many sectors, and not only the local audiovisual industry,” explained Johanna Karppinen, CEO of Audiovisual Finland. “It is very satisfying that the government looks at film and TV when searching for new sources of international monetary flow and growth, thus recognising its potential.”
Administered by Tekes - the Finnish Funding Agency for Innovation, the scheme allows feature films, fiction series, documentaries and animations a 25% rebate on money spent on local goods, services and salaries during production work carried out in Finland. The more detailed criteria are yet to be announced.