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South Africa, Ireland Ink Film Tax Break Agreement 5/22/2012 On May 20, 2012, the South African Minister of the Department of Arts and Culture
Paul Mashatile and his Irish counterpart Jimmy Deenihan signed a co-production
treaty that will provide access for filmmakers to opportunities and tax breaks
in both countries.
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Spain Told To Recover Film Industry State Aid 5/14/2012 The European Commission has concluded following an investigation that the subsidization
of Ciudad de la Luz film studio complex by the Valencia Regional Government in Spain contravened
European law, as a grant worth EUR265m (USD343m) was not provided on market conditions.
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EU Consults On State Support For Film Finance 3/21/2012 The European Commission has launched a consultation on the state aid criteria
it proposes to use to assess proposals from member states to provide tax relief and other concessions to film financiers.
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Interest In Guernsey As A Film Finance Centre Grows 3/16/2012 Guernsey's latest London seminar, to showcase the island's offerings as a leading
international film finance centre, has been hailed a success after attracting
an audience of over 100 senior members of the UK film community.
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China Agrees Increased Access For US Movies 2/22/2012 Vice President Joe Biden has announced that China has agreed to increase significantly
the access on commercial terms for United States movies in its market, so as to
resolve outstanding issues related to films after the latter’s victory in
a World Trade Organization dispute last year.
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USD1bn Claimed In UK Film Tax Relief 12/19/2011 HM Revenue and Customs has released a summary of film tax credit take-up, showing that claims worth GBP645m (USD1bn) have been made since the scheme was introduced.
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UK Film Tax Relief Extended 11/14/2011 The UK's film industry will be able to benefit from a targeted tax break until the end of 2015, under a scheme worth nearly GBP1bn (USD1.6bn) a year, Prime Minister David Cameron has announced.
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Australia To Improve Film Industry Tax Support 8/1/2011 Companies involved in making films in Australia are invited to make a submission about new legislation that will determine how the government's support for the industry could be improved.
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New Zealand Pushing India FTA 6/15/2011 New Zealand's Prime Minister John Key (pictured), accompanied by Trade Minister Tim Groser
and a 25-strong business delegation, will meet with key Indian individuals to
discuss furthering bilateral trade and investment, with talks expected to focus
on a proposed trade pact aimed at reducing tariffs.
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IRS Urged To Give 'For Profit' Status To Film Documentaries 6/16/2011 The International Documentary Association, that represents nonfiction filmmakers,
has joined forces with a coalition of media arts organizations and independent
filmmakers to urge the United States Tax Court to recognize that documentary films
are overwhelmingly undertaken in pursuit of profit.
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US States Axe Film Tax Credits 6/8/2011 The Tax Foundation has pointed that more American states are abandoning film
tax credits as they fail to live up to their promises to encourage economic growth
and to raise overall tax revenue.
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Thailand Approves Tax Break For Foreign Actors 4/14/2011 To promote the increased use of Thailand as a site for international film-making,
and support movie production in the country, the government has agreed a tax break
for foreign actors.
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Puerto Rico Improves Film Tax Incentives 3/9/2011 On March 4, in the presence of Jennifer López and Marc Anthony, Governor
Luis G. Fortuño signed a new law which greatly improves the tax incentives
available for producing films in Puerto Rico.
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Malaysia Approves Film Returns Incentive Scheme 2/28/2011 To assist local film producers and the development of the Malaysian film industry,
the government has approved a proposal to introduce a Film Returns Incentive Scheme,
to replace rebates of the existing entertainment tax.
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Bollywood Bemoans Indian Taxes 11/26/2010 Indian Ministers and officials have suggested that they will re-examine the tax burden faced by the Indian film industry in Goa, following a tongue-lashing by one of Bollywood's veteran filmmakers.
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NZ Incentives Agreed for The Hobbit Films 10/28/2010 The Prime Minister, John Key, has announced an agreement that has been reached between
the government and the movie production company, Warner Bros, which will enable
the two Hobbit movies to be made in New
Zealand.
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Guernsey Welcomes First Film Finance Fund 10/13/2010 A new film fund launched by a local investment manager is believed to be the
first investment fund established in Guernsey to specifically invest in film
production, marketing and distribution.
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Screen Australia Releases New Co-Production Guidelines 10/7/2010 After a review which began in late 2009, and following three months of consultation
with Australian and individual practitioners, Screen Australia has released its
revised and more flexible International Co-production Programme guidelines.
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Guernsey Begins Film Finance Drive 10/5/2010 Guernsey Finance has reported the success of an event, attended by more than 75 members
of London’s film community, in Soho on September 30, held to showcase the
potential benefits of using Guernsey’s finance industry.
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Australia Expands Film Tax Offsets 7/12/2010 Australia’s Assistant Treasurer, Nick Sherry, and Minister for Environment
Protection, Heritage and the Arts, Peter Garrett, have released draft legislation
to expand access to film tax offsets.
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Virginia Enacts Film Tax Credits 6/18/2010 Virginia has passed its first law giving tax credits to the motion picture industry.
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UK Film Industry Defends Tax Relief 6/8/2010 As the UK government looks to make swingeing cuts to its budget, a
new report commissioned by the UK Film Council has concluded that the
country's film tax relief is 'vital' to sustaining current levels of
global competitiveness and job creation and should be left in place.
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Australia Improves Film Tax Breaks 5/13/2010 The Australian government is to make important changes to the eligibility requirements
for film tax offsets, to make the country a more attractive destination for significant
film making, and to enable more Australian businesses, particularly small businesses,
to benefit from them.
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US Film Futures Not Yet A Box Office Hit 4/29/2010 Shortly after the United States Commodity Futures Trading Commission approved two applications to establish movie box office futures exchanges, a
Senate committee added an amendment banning such products into the draft bill
aimed at putting tighter restrictions on exotic derivatives.
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Manitoba Extends Film Tax Credit Scope 4/22/2010 Manitoba's Budget 2010 brought in a new 30% production tax credit, and the province now has the highest tax credits available to film and television producers in Canada, which are worth about CAN16m to the industry annually.
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HK Improves Film Development Fund 3/31/2010 Hong Kong’s Film Development Council began to implement measures to
enhance the operation of the Film Development Fund scheme from March 31,
and applications for the financing of film productions under the enhanced scheme
are now being invited.
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Mexican Film Tax Breaks Announced 3/16/2010 Mexican President Felipe Calderón has launched an initiative, called the 'High Impact Support For Film and Audiovisual Industry Program' to make Mexico the 'capital of Latin American cinema', during a visit to the Baja Studios in the state of Baja California.
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US Senate Approves Tax Extenders Bill 3/12/2010 US Senate Finance Committee Chairman Max Baucus has applauded the Senate’s passage of legislation to extend tax cuts, unemployment insurance benefits and eligibility for unemployment benefits and health care for unemployed workers through the end of 2010.
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