The 14 projects already approved, within the scope of the incentives to capture footage in Portugal, foresee a total investment of 23.7 million euros in the country, Lusa official source told the Ministry of Culture.
"So far – and including the applications that came in 2017 under the previous tax regime – incentives have already been approved for 14 projects, which include productions from the USA, India, Brazil, Portugal or Italy, and several co-productions from Portugal and France, or Portugal, Spain and France, "corresponding to" a total investment of 23.7 million euros in filming in Portugal. "
The figures are advanced on the eve of World Cinema Day and about a month after publication in the Diário da República of the regulation of the Tourism, Cinema and Audiovisual Support Fund, which frames the granting of these incentives.
According to the diploma published on September 28, the adaptation of Portuguese literature, filming in Portuguese venues and studios, the existence of award-winning filmmakers and the majority participation of women in the projects are prerequisites for applications to this fund.
Created by the Government and in force this June, the Support Fund for Tourism, Cinema and Audiovisual has a capital of 30 million euros and a global allocation that could allow the extension to 50 million, by 2022, "due to its implementation and the assessment of their impact. "
By 2018, "the incentive for cinematographic and audiovisual production and the capture of international films for Portugal", has a maximum annual allocation of ten million euros.
From next year, and until 2022, according to a source from the Ministry of Culture, the scheme provides an annual allocation of 12 million euros.
The application to the fund implies that a minimum investment of 500 thousand euros is made in national territory in the case of films shot in Portugal and 250 thousand euros in the case of production work.
According to the regulations, the maximum amount of support for each production is four million euros, and "only projects of works that have international distribution are accepted".
Supported projects are also allowed to have other "state aid", but the sum of the incentive "can not exceed 50 percent of their production costs".
The Portuguese Government regards this fund as "one of the most competitive in Europe" by allowing a "reimbursement" of up to 30% of expenditure on projects of high economic and / or cultural impact "and setting" a maximum deadline of 20 working days for the assessment of applications ".
The granting of support is made by a joint decision of the Institute of Cinema and Audiovisual (ICA) and Turismo de Portugal.
The Tourism, Cinema and Audiovisual Support Fund has an advisory council chaired by Turismo de Portugal, with representations of the ICA, the Ministry of Finance and a personality to be designated by the Government.
The fund manager will have to make an assessment by December 2022 before deciding whether or not it will be renewed.
The previous regime, in force in 2017, essentially provided for a deduction of 20% to 25% of the eligible expenses incurred in Portugal for the production of feature film works.