TAX rebate for movie productions will be increased from 47 to 75 per cent.
This was the revelation by Fiji’s Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum while delivering the 2019-2020 national budget in Parliament tonight.
However, he said for film production companies to receive the incentive, they would have to spend all the money in Fiji.
“This will serve a double benefit, infusing international cash flow into our local hotels, restaurants and tourism service providers while also heavily incentivising contracts in Fiji for other stages of production including pre and post-production,” Mr Sayed-Khaiyum said.
“To help meet the heightened demand and continue to grow an industry that is already generating new, interesting and well-paying careers for young Fijians, duty for cameras and AV (audio-visual) equipment will be reduced.
“A 200 per cent tax reduction will be rolled out for production companies that bring equipment to Fiji to set up shop by introducing a seven-year tax holiday for capital investment above $2m for companies who invest in film production facilities in Fiji.”
* Stay with us as we bring you brief updates from the 2019/2020 National Budget. More detailed reports will be published in tomorrow’s edition of The Fiji Times and also in our e-Edition
