Written by David Lewis on Apr 3, 2009. Posted in Incentive News

Iceland's reimbursement incentive jumps to 20%

Earlier today, Iceland's government voted to increase its Reimbursement of Film Making in Iceland programme from 14% to 20%. This means that 20% of all production costs incurred during film and television production is now refundable.

The world's press has made much of Iceland's economic collapse, but it's financial problems have resulted in a booming film and television industry. Many productions have been waiting to see if the government would approve the increase before committing their production to the country.

Einar Tómasson, Film In Iceland's Film Commissioner, said: "I am very relieved. There was a lot of lobbying by the industry but the final vote was unanimous. Everyone in Iceland is behind the increase."

Iceland's industry has been busy, and it's about to get much busier.