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Lithuania Lures Film-Makers With Tax Breaks

By Ulrika Lomas, Tax-News.com, Brussels

23 April 2013


Lithuania's parliament has approved an amendment providing tax breaks for film production in the country.

According to Jurate Pazikaite, director of the Vilnius Film Office: "Latvia is the only country among our neighbors that has a similar tax exemption and with which we currently compete." He noted that similar incentives in Hungary had led to a seven-fold increase in foreign films made in the country, and that "within five years, film production grew by a hundred million Litas."

Pazikaite added that the amendment will make Vilnius into "a great centre of attraction for films from both Hollywood and other European countries," and he expressed gratitude to the Ministry of Finance "for having the courage to take these vital measures necessary for our film industry."

The Film Office believes that foreign film-makers are attracted to Lithuania because of its landscape, architecture, and professional standards. According to an announcement by the office, Hollywood producer Richard McCallum has said that that the amendment would create opportunities for international projects worth millions.

Kestutis Drazdauskas, who chairs the Independent Producers Association of Lithuania, was quoted as adding that the amendment would also attract Lithuanian film producers and help Lithuanian film makers to find partners abroad.

TAGS: tax | film finance | Hungary | Latvia | tax breaks | Lithuania

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