Finnish Government Pushes for New Cash-Rebate Incentive

HELSINKI: The Finnish government has proposed a new production-incentive model that would offer a 25 percent cash rebate for film and TV starting as early as 2017.

The decision was announced after the annual workshop between government members, in which the state budget is balanced. After this, the state budget will receive its final approval from the parliament (generally, the decisions taken in the workshop hold the parliament stamp).

The cash rebate of 25 percent would be applicable for the money spent on local goods, services and salaries in conjunction with production work carried out in Finland. Applicable productions include feature films, fiction series, documentary films and animations.

The more detailed criteria will be established once the final decisions are made. The incentive program is planned to take effect in early 2017.

“The adoption of the incentive makes Finland a highly competitive candidate for shooting major international productions,” said Olli Rehn, Finland’s minister of economic affairs. “Our beautiful and versatile landscape together with good infrastructure and skilled workforce is a combination that few others can match.”

“This is a very wise decision by the government,” added Johanna Karppinen, CEO of Audiovisual Finland who has spearheaded the national lobbying efforts for the rebate. “I firmly believe that the incentive will work as an overall booster for many sectors, not only that of the local audiovisual industry. Clearly this is a very satisfying moment, to see that the government looks at film and TV when searching for new sources of international monetary flow and growth, thus recognizing its potential.”