Cannes: Netherlands Film Fund Unveils 30 Percent Rebate Scheme
The Netherlands Film Fund unveiled details of its new 30 percent tax rebate scheme, which kicks off this summer and will provide some $27 million (€20 million) annually in cash rebates for local and international productions that shoot in the region.
Under the new scheme, qualifying productions have to invest a minimum of $127,000 (€100,000) in local spend in the Netherlands and can receive a maximum of up to $1.27 million (€1 million) in cash rebates per project.
The scheme is open both to local features and international co-productions. Features and feature-length animation projects have to have a minimum $1.27 million (€1 million) budget while documentaries budgeted at $343,000 (€250,000) or more can qualify. Productions must have at least 50 percent of their funding and a Dutch distributor in place to be considered. When a project is accepted for the Dutch scheme, producers have six months to complete financing and begin their shoot. Doreen Boonekamp will run the fund as CEO.
The European Commission this week approved the Dutch fund and the government of the Netherlands has earmarked funding for four years.
In addition to having to pass the so-called “cultural test” to qualify as a European co-production, international features will also need to get at least 75 of a possible 200 points to receive funding under the Dutch scheme.
Points will be awarded for such things as having Dutch cast and crew or doing postproduction in the Netherlands.
Details for the fund, as well as application forms, go up on the fund’s website, www.filmfund.nl, later on Friday. The first deadline for applications is June 5.