Iceland 🇮🇸

Iceland offers a competitive film incentive program designed to attract both domestic and international film and television productions. Below is a detailed breakdown of the incentives:

1. Iceland Filming Incentives - Cash Rebate Program

Cash Rebate:

Iceland provides a cash rebate on qualifying production expenditures incurred within the country.

2. Film Incentives Breakdown

Rebate Percentage:

• 25% base rebate on eligible production costs.
• 35% rebate for productions meeting specific criteria.

Eligible Productions:

• Feature films.
• Television shows.
• Documentaries.

Criteria for 35% Rebate:

• Minimum production costs incurred in Iceland: ISK 350 million.
• At least 30 working days in Iceland, including a minimum of 10 shooting days.
• A minimum of 50 staff working directly on the project, with salaries and payments taxed in Iceland.

3. Filming Incentives Terms and Conditions

Eligible Expenses:

• All costs incurred in Iceland that are deductible from the revenues of enterprises pursuant to the provisions of the Act on Income and Net Wealth Tax.
• Payments to employees and contractors are included if they are verifiably taxable in Iceland.

Exclusions:

• The reimbursement scheme does not cover the production of commercials or music videos.

4. Governing Bodies for the Incentive

Film in Iceland:

The Icelandic Film Commission assists filmmakers in shooting on location in Iceland and promotes the incentive program.

Icelandic Film Centre:

Administers the Icelandic Film Fund, providing financial support to various film projects.

5. Filming Incentive Application Process

1. Application Submission:

• Producers can apply for reimbursements from the State Treasury for costs incurred in the production of films and television programs in Iceland.
• Applications are submitted online through an application system.

2. Evaluation:

• The application is reviewed to ensure it meets the eligibility criteria, including the cultural test and financial requirements.

3. Approval and Contract:

• Upon approval, a contract is established outlining the terms of the rebate.

4. Production and Expenditure Tracking:

• Proceed with production, ensuring all eligible expenditures are properly documented and comply with the program’s requirements.

5. Rebate Claim:

• After production, submit the necessary documentation to claim the rebate.
• The governing body processes the claim and disburses the funds accordingly.

For detailed guidelines and application forms, it is advisable to consult the official Film in Iceland website or contact them directly for assistance.