VALLETTA: In his annual budget speech to the Malta Parliament, Malta’s Finance Minister Edward Scicluna said that the film industry in Malta is on course to record a 500% increase.
The boom is the result of government incentives, which includes a 27% film cash rebate. The European Commission recently approved the rebate, giving it clearance to be in force through 31 December 2018. Malta’s cultural test allocates an additional 2% rebate. The finance minister said that the Malta Film Commission will launch an international advertising campaign to attract more film productions to Malta.
He added that the government will put out an international call for strategic partners to develop the Mediterranean Film Studios which house Malta’s three water tanks, some of the largest in the world. They include one indoor water tank and two outdoor water tanks with clear horizon views.