Uruguay Gets International Shoot Rebates, Extra National Production Aid

Variety | 12/28/2018 | John Hopewell
Click For Photo: https://pmcvariety.files.wordpress.com/2018/12/uy-audiovisual.jpg?w=700&h=393&crop=1

Uruguayan authorities have created a new Uruguay Audiovisual Fund that offers cash rebates for international productions shooting in Uruguay, as well as extra grants for Uruguayan productions.

Announced last week in Montevideo, and part of a new roadmap for Uruguay’s create industries, news of the new Fund comes days after Matías Ganz’s “Los Indefensos,” an idiosyncratic genre blender, won Le Film Français prize, one of the major awards at Ventana Sur’s Primer Corte pix-in-post strand.

Contradiction - Uruguay - Industry - Size - Population

That sums up the current contradiction of Uruguay’s industry. Despite its small size, with a population of just 3.4 million, Uruguay punches above its weight in film terms. It boasts exceptional upscale directors – Federico Veiroj, Alvaro Brechner and Gustavo Hernández are just three – and has seen Uruguayan Fede Alvarez direct two U.S. chart toppers – 2013’s “Evil Dead” and 2016’s “Don’t Breath.”

But Uruguay’s movie industry also suffers from acute under-capitalization: Alvarez works in Hollywood, near all Uruguayan productions are made in international co-production.

Uruguay - Audiovisual - Fund - Attempt - Industry

The Uruguay Audiovisual Fund represents an attempt to reset the industry. The new international shoot support takes the form of rebates equivalent to up to 25% of eligible expenditure in Uruguay. Rebates apply to any kind of audiovisual production save commercials. To qualify, shoots must spend over $1 million in Uruguay. Rebates are capped at $400,000 per production. They will complement an already-in-place 22% VAT exemption mechanism for production services and co-productions.

The creation of a production incentive for international shoots in Uruguay is “highly promising,” said production incentive consultant Jonathan Olsberg, at Olsberg SPI.

Cards - Keynote - Future - Automatic - Production

It was also always on the cards. In a keynote, The Future of Automatic Production Incentives, which Olsberg presented at this month’s Ventana Sur, he noted...
(Excerpt) Read more at: Variety
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!