27-11-2014

FNE at Baltic Event 2014: Lithuanian Tax Incentives Soar

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TALLINN: The new Lithuanian tax incentives scheme for films, introduced just 11 months ago, “is working quite well,” Lithuanian Film Centre project manager Kristina Vildziunaite said at a presentation taking place at the Baltic Event, which runs through 28 November 2014.

Nineteen films have applied for the incentives, consisting of ten coproductions, including six commissioned films (foreign films using Lithuanian film services), and nine national productions. Applications are accepted year-around. The total number is expected to be more than 20 films by the end of 2014. Four of the projects have already been completed.

The tax incentives have a cap of 20m EUR through 2018. To date, over 50 percent of the incentives have gone to commissioned films using Lithuanian film service companies, and only about 5 percent has gone to national Lithuanian films. Coproductions with Germany, Finland, Spain, Poland and the UK have used the incentives scheme, with US project planning to come to shoot in Lithuania in the near future.