Romania introduces cash rebate scheme
Romania’s cash rebate scheme approved in June 2018 launched on October 8, Film New Europe reports. The National Commission for Prognosis has announced the members of the Film Commission which will select the projects, among them two Americans, Stan McCoy (President of Motion Picture Association) and actor Kevin Dillon. The other members are Adrian Titieni (actor and Honorary Rector of the National University of Theatre and Film I.L. Caragiale), film director Dan Pița and director of photography Alexandru Sterian.
The state aid scheme offers a 35% cash rebate on qualified expenditure for international productions shooting in Romania. Additionally, productions explicitly promoting Romania, with a minimum local spend of 20% of the total budget of the production, can also apply for a rebate of 10%.
There is a total cap of 50 million euros per year to fund the scheme. The minimum required amount of qualified expenses is 100.000 euros. The scheme is open to feature films, medium and short fiction films, TV series, direct-to-video, internet and any other support films, documentaries and animated films. The rebate cannot exceed 10 m EUR per project (or per season, for a TV series).
The scheme will work on a first come first served basis and will require international productions to have production services or a coproduction contract with a Romanian production company. The scheme is set to run until the end of 2020.