The Government of the Republic of Cyprus has, on 27 September 2017, launched an investment incentive scheme to promote the filming industry in Cyprus. The programme aims at attracting international filming productions to Cyprus, providing major benefits for both the film production companies and the country itself.
Production companies that opt to film in Cyprus will be able to choose to benefit from either a cash rebate (partial refund of the amount invested on the film) or a tax credit. Irrespective of which option they select (cash rebate Vs tax credit) production companies can also benefit from tax discounts on investments made on equipment and infrastructure, and VAT returns on expenditure in scope.
Please download our newsletter for more information regarding this investment incentive scheme.
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