Guest Contributor | Jun 2, 2022 | 0
Film Commission tax rebates to lure foreign investment
Emvula who recently replaced Rosalia Penda as the Namibian Film Commission Chair said that the new tax rebate incentives are broad in size and scope.
To qualify for the rebate production companies will have to spend minimum of US$500,000, which is likely to be spent on post production activities.
One of the incentives being a 20% percent direct grant with a 10% cash rebate for qualified expenses. The targeted qualifying expenditure include hiring of local labour and equipment and freight of goods locally.
The film commission proposed for a greater number of filming crews to compose of local labour which is likely to increase during the incentive.
Martin Cuff an Economic Development specialist with a unique focus on film, television and media has been consulted by the film commission while the Ministry of Trade is in talks with consultants from Belgium.
Currently several ministries serve on the Namibia Film Commission’s board including the Ministry of Home Affairs.
“The new incentives are essentially to maximise the offering of new business to Namibia by increasing the value chain through indirect participation from other sectors,” Emvula said.
Hans Christian Manke, co-creator of the Namibian Movie Collection that distributes Namibian film products in- and outside is also of the opinion that investment in local film industry will see a trickle down effect.
Manke recognized that the nation faced stiff competition from countries such as Botswana and South Africa for foreign production companies due to similar setting and locations.
“International trade relations for creative industry should not be overlooked as it offers diversification of the local film industry and a leverage on the promotion of tourism,” Manke said.