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Tax relief  / 12
Can I apply for both Cash Rebate and Tax Relief?

The two Incentives are complementary but you need to apply for each one separately.

Are eligible costs in the Tax Relief calculated as in the Cash Rebate?

The eligible costs in the Tax Relief are the same as the eligible costs in the Cash Rebate. They may not exceed 80% of the total costs. They must not breach the conditions set by Law 4487/2017, as amended and in force, regarding the minimum amount of costs submitted for approval of the audiovisual works. In the tax relief, the audiovisual work must obligatorily be managed  the financially through a Special Bank Account in order for the costs to be considered as eligible.

Do I have to apply for Tax Relief before I start filming?

This is a tax relief and hence is not related to filming. 

How do I apply?

The application is submitted on the website of EKOME to the State Aid Information System (PSKE) either by acquiring the passwords of a new user or by updating the passwords of an old user.

What documents should accompany my application?

The qualification application must be accompanied by the following supporting documents:

i. An application form on paper, filled in and signed by the producer or the legal representative of the applicant company.

ii. A tax and social security clearance certificate for the  applying natural person,  or the production company according to its articles of association. 

iii. Detailed budget of the audiovisual work and a list of main cast and crew. 

iv. Production schedule, production locations and production labs.

v. Detailed financial plan including the funding sources and accompanied by all evidence of its coverage (co-production agreements, decisions of public or international organizations, etc.)

vi. Intellectual property acquisition agreement. 

vii. A co-production agreement. 

viii. Contracts between the production company and the production service company. 

ix.  An Internal Revenue Service (DOY) certificate on the business activities of the company.

xi. An administrative fee of €100.

Which body issues the expense documents?

All legal documents for the eligible costs are issued in the name of the producer of the work or in the name of the executive producer. In the case of co-production, the documents of the eligible costs are issued by each producer separately, according to their participation in the production on the basis of the co-production agreement submitted to EKOME for the specific audiovisual work.

How is the percentage of tax relief calculated, on the basis of the overall project or per year?

The tax relief percentage is calculated on a tax year basis.

How is the tax relief calculated?

Amounts paid by legal entities as well as natural persons engaged in business activity and concern thirty percent (30%) of the eligible costs of each audiovisual work, are deducted from their net taxable results, as they result from the income tax return of the tax year to which they relate.

For natural persons not engaged in business activity, thirty percent (30%) of the eligible costs are deducted from their taxable income in proportion to their income category.

Tax relief is calculated on the basis of the financial plan submitted by the producer and such calculation states the percentages of the financiers of the Investment Plan that agree with the submitted agreements between the financiers and the Producer.

How is the tax relief calculated in case of a co-production?

In the case of co-productions, the amount deducted is calculated according to the participation of the natural or legal person or legal entity in the production.

10. If an investor contributes an amount for one year, will they receive tax relief for that year?

Tax relief is linked to the incurred eligible costs which do not need to be incurred within the same fiscal period.

What happens if losses occur after deducting the above costs?

In case losses occur after the deduction of the above costs, such loss is transferred under the provisions of article 27 of Law 4172/2013

What happens in the event that the audiovisual work for which an application has been submitted cannot be completed?

If within 36 months from the submission of the application for qualification of the audiovisual work for the tax relief, the work cannot be completed due to failure of the producer and failure for a new producer to be found, the relevant document must be communicated to the competent Tax Office (D.O.Y.) within one month of non-completion of the work and the amounts paid deducted from the net taxable results are added to the income tax return of the tax year when the above document was communicated according to the above.