“The 10% increase in the rebate for local productions up to R6 million, and the reduction in the threshold for local productions and will prove to be very attractive for emerging filmmakers with access to smaller budgets,” says Singh. “Most importantly though, there will be a significant increase in the generation of local content, which is always a good thing.
“The reduction of the threshold for foreign-owned productions will give South Africa a competitive edge as a location for international film shoots which will ultimately mean more work for our talented actors and technicians. It will also promote economic development and boost South Africa's international profile as a desired film destination.
“It will also see the transformation of the industry through the requirements of broad-based black economic empowerment. The revised incentive has provided key elements for a vibrant and sustainable film and television industry. We commend the Minister of Trade and Industry, Mr Mandisi Mpahlwa and the Film Sector Team of the DTI for a well designed Revised Incentive scheme," concludes Singh.
For more:
