Armenia approves cash rebate program for film production.
The Armenian government has approved the procedure and conditions for receiving cash rebate for investments in the film production sector, which envisages a return to the filmmaker of up to 35% of the investments made for that purpose.
Who can receive a cash rebate of investments made for film production?
Resident and non-resident filmmakers of the Republic of Armenia whose activities are classified under codes J59.11 or J59.12 of the Economic Activity Types Classification approved by the Decision of the Minister of Economy of the Republic of Armenia No. 874-N of September 19, 2013, may receive a partial refund of monetary investments made for the purpose of film production in the territory of the Republic of Armenia.
How much cash rebate is provided?
A film producer may receive 25% rebate for expenses directly related to film production in the Republic of Armenia.
An additional rebate of up to 10% is provided for films in which the Republic of Armenia will be popularized as a destination. Up to 5% rebate is provided for an Armenian producer and up to 10% in case of a co-production or a non-resident producer.
What expenses are subject to reimbursement?
Those expenses directly related to film production and are defined in the list of goods, works, and services attached to the decision of the Government of the Republic of Armenia are subject to reimbursement. To receive a partial return on investment, it is mandatory that the goods, services, and works directly related to film production be purchased from resident organizations and individual entrepreneurs of the Republic of Armenia.
How is the cash rebate implemented?
• The film producer must apply to the National Body (Cinema Foundation of Armenia) by submitting an application and the required documents.
• The application is examined by a professional group within the established deadlines and transferred to the Authorized State Body in case of a positive conclusion.
• The Authorized State Body makes a decision within the established deadlines on granting or refusing a partial return of investments.
• In case of approval, a contract is signed between the film producer and the National Body.
• After the film is produced, it is submitted to the National Body, and the rebate is implemented based on the actual expenses incurred.
The goal of the program is
To develop the film industry of the Republic of Armenia and promote foreign investments. The project aims to more effectively use the potential of economization of culture, generation of additional income, and promotion of cooperation with foreign and international organizations.
For more information
All interested parties may contact the authorized body of the Government of the Republic of Armenia or follow the official announcements to get acquainted with the details of the program.
Contact information: (please indicate the relevant contacts)
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