Tax incentives of up to 22.5% to encourage TV production in South Africa are to be announced soon by the government, according to a UK based publication.
South Africa's Department for Trade and Industry (DTI) is finalising documents to introduce a new foreign production rebate of 20%, rising to 22.5% if the programme is also post produced in the country, reports Broadcast.
The rebate will be offered to those producers who have not already met the co-production status criteria that provides a 25% tax break. In addition, 25% credit will be offered for South African post production work on any television programme, reports the trade journal.
Local producers have reportedly been advised that the scheme will be unveiled to further encourage TV production to the country, although there has been no comment yet from the DTI.
The news follows the announcement last month that the UK is to introduce a tax credit scheme for TV production and animation companies in a bid to keep creative talent in Britain.
http://www.rapidtvnews.com/index.php/2012040521107/south-africa-mulling-tax-breaks-for-foreign-tv-projects.html
South Africa's Department for Trade and Industry (DTI) is finalising documents to introduce a new foreign production rebate of 20%, rising to 22.5% if the programme is also post produced in the country, reports Broadcast.
The rebate will be offered to those producers who have not already met the co-production status criteria that provides a 25% tax break. In addition, 25% credit will be offered for South African post production work on any television programme, reports the trade journal.
Local producers have reportedly been advised that the scheme will be unveiled to further encourage TV production to the country, although there has been no comment yet from the DTI.
The news follows the announcement last month that the UK is to introduce a tax credit scheme for TV production and animation companies in a bid to keep creative talent in Britain.
http://www.rapidtvnews.com/index.php/2012040521107/south-africa-mulling-tax-breaks-for-foreign-tv-projects.html
