Following the significant success of the new investment incentive for audiovisual works production in Greece, a new amendment to the Law No 4487/2017 passed on Thursday 13 September 2018.
In the context of Greece aiming to boost investments and support the audiovisual sector the amendment includes the following major changes:
- Cash rebate rises from 25% to 35% on the eligible expenses incurred in Greece.
- The previous ceiling of €5,000,000 is abolished.
- Α more flexible floor is adopted in case of TV series, starting at a minimum of €30,000 per episode, with the minimum of all eligible expenses remaining at €100,000.
- The minimum for eligible expenses is set at €60,000 for digital games.
- The cash rebate may be used as a collateral for producers to obtain funds through the Greek banking system.
All the above changes aim at expediting the application submission procedure and facilitating EKOME as the receiving operator to process the investment plans.
During Thessaloniki International Fair 2018, public and private entities along with the general public were informed at EKOME stands, in Pavilion 12 (Digital Greece) and Pavilion 15, about the law amendment and the new prospects for the audiovisual industry.
For further information you may read the amendment to the Law No 4487/2017 here (currently available only in Greek).