Goods and services tax rebate provides incentives for film production in Turkey, Culture and Tourism Ministry says.
Hollywood films produced in Turkey – including Skyfall, Argo and Taken 2 – have obtained a value-added-tax rebate of around 12 million Turkish lira (US$ 5.45 million), the culture and tourism ministry has said.
The rebate had been granted in co-ordination with the Turkish Finance Ministry under regulations aimed at providing incentives to increase foreign film production in the country, the ministry said on Thursday.
Turkey has become a hub for foreign movies and associated industries since the government implemented an incentive package in 2004, the ministry said.
Foreign film companies have spent 80 million Turkish lira (US$ 37 million) on producing 18 movies in Turkey since 2011.
On top of all of its advantages as a place for filming, significantly lower costs are an added attraction to producers. Crew rates, equipment prices, accommodation, studios, construction and art department expenses are the most obvious to name, yet you will be delighted to find out how much you can save in other areas of expenditure too. Recent economical developments brought the currency rate to its most favorable level and created an immense positive impact on our budgets.