Interest in Lithuanian Tax Incentives Is Growing


EFM

Before the start of the Cannes film festival and Marché du film, Lithuania is counting the first tax incentive successes and waiting for the second wave of applications after the festival. The Lithuanian film centre, which administers the scheme, says that the interest in the tax incentives is higher than expected.

‘After evaluating our neighbour countries’ experience, we were expecting to receive about 8 applications per year and were hoping to approve 3-4 of them,’ says Rolandas Kvietkauskas, the Head of the Lithuanian Film Centre. ‘However, in less than 6 months we have given the green light to 3 projects and another three should be approved very soon, too’.

The three projects, which have been given the green light, are: a co-production with the UK ‘We Will Sing’ by British director Robert Mullan, a commissioned film ‘Helena’ by Finnish director Antti Jokinen and another commission production ‘Music in Ice’ by Russian director Yuri Vasiliev. So far the Lithuanian spend of the three projects amounted to more than 1,7 million Euros.

The producers from the UK, Japan, Germany, Spain and other countries have already expressed their interest in the incentives scheme. The interest comes not only from feature but also documentary as well as animation filmmakers.

The structure of the new tax incentive involves a producer who is able to reduce the Lithuanian production budget, a local investor who supports the production of the film and is able to reduce its local corporate income tax and the Lithuanian Film Centre.

The incentive is applicable to the amount of money spent in Lithuania, the minimum of which is fixed at €43,443.

The Lithuanian Films pavilion at Marche du Film will traditionally be located at Village International Pantiero, Pavilion No. 221. Anyone interested in shooting in Lithuania and learning more about the tax incentives are especially welcome to visit the pavilion every day from 5pm to 7pm.