01-07-2011

Czechs to Fund 2012 Tax Incentives

By Anna Franklin

    PRAGUE: The Czech government will continue its support of film tax incentives through 2012, Czech Minister of Culture Jiri Besser told FNE.

    "The cabinet and the Czech government approved funding support amounting to 300m czk for 2011. The state budget for 2012 is now being prepared and I believe that also, thanks to the evaluation that has been already approved by the cabinet, it will be possible to allocate at least the same amount in 2012," Besser said in an exclusive interview.

    The decision was based on an evaluation that showed income increased by 18% more than the amount of the investment on the part of the Czech government, according to Besser.

    He added, "In the Czech Republic there will be no decrease in jobs, and the figures in the evaluation tell us that in total the film incentives are a benefit for the Czech state budget."

    The Czech Republic launched the tax incentives last year in an effort to revive the lucrative film service industry and lure foreign filmmakers back to Prague, which had been the European capital for film production from the mid-1990's until the mid-2000's.