TALLINN: Foreign funds of up to 1.67 m EUR were invested in Estonia since 2016, when the Estonian Film Institute initiated the cash rebate project Film Estonia. The pilot year of the project offering foreign film productions a cash rebate of up to 30% has shown twice the expected results.
"Film Estonia’s first year was very beneficial for the whole film sector here", said Edith Sepp, the head of the Estonian Film Institute (EFI). She explained that the EFI expected every euro to be tripled in foreign investment, but the numbers showed that every euro spent brought back more than seven euros.
The cash rebate from the pilot year was 502,000 EUR. Labour taxes of 274,000 EUR were paid to the state for the employment of local film crews.
The cash rebate was divided between two projects, the Finnish movie The Eternal Road (which spent in Estonia 1.53 m EUR from a budget of 3 m EUR) and the Danish long animated film Hodja from Pjort (which had a budget of 2.2 m EUR and spent 143,000 EUR in Estonia.)
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