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I. Cash Rebate
The implementation of Law 4487/2017 for the operation of the cash rebate, was a decisive step in attracting investments through the production of films, TV series, documentaries, cartoons and digital games in Greece.
In September 2018 (Law 4563/2018), the subsidy rate increased to 35%, while from July 2020 (Law 4704/2020) it amounts to 40%, offering a more flexible framework for the inclusion of television series (with a minimum eligible costs (€ 15,000 to € 25,000 per episode) and digital games (with a minimum eligible costs of € 30,000). The new legislation provides for a minimum of € 60,000 for both documentaries and short films, while the minimum eligible costs for fiction films remain at € 100,000.
The Greek cash rebate has no ceiling on the return of money: a greater investment in eligible expenses equals a greater return from the program! In addition, it can act as a guarantee for producers to lend through Greek banks. The financing of the grant was provided by the Public Investment Program, from which € 75,000,000 have been committed for the years 2018 to 2022. From April 2018 to September 2020, 86 applications have been approved for project financing (of which 43 are international and 43 Greek productions). The amount of invested funds in the country amounts to 90 million euros, while the amount of the refund through the cash rebate amounts to 30 million euros.
II. Tax Relief (Tax Incentive)
With the implementation of L.4172 / 2013-71E and JM 1007 / 09-01-2019, EKOME now manages the tax relief program, which provides a tax exemption of 30% for investments in domestic productions (through same procedure as for the cash rebate). The program can be utilized in combination with the cash rebate reaching up to 50% of the total production cost of a project.
Data source: National Center for Audiovisual Media (EKOME)
For more information about the funding programs, you will find in the Financial Regulation of the Greek Film Center:http://www.gfc.gr/images/files/REGULATIONS_2015.pdf
