Germany Cuts Funding for Film Tax Incentive
The German tax incentive program has backed such projects as "The Grand Budapest Hotel," "The Monuments Men" and "The Book Thief."
Germany has cut funding for its popular federal film tax incentive by around $14 million for 2014, reducing the amount available for local shoots to some $82 million (€60 million) from $96 million (€70 million).
The fund, the DFFF, which has backed such productions as Wes Anderson's The Grand Budapest Hotel, George Clooney's The Monuments Men and Quentin Tarantino's Inglourious Basterds, has been credited with bringing tentpole productions to shoot in Germany. Its success was a prime reason why the German government boosted the fund's budget last year.
The news of the cuts comes as a shock to German and international producers, particularly after German culture minister Monika Grutters in February assured local producers that funding for the DFFF would not be touched.