The government has passed a decree on incentives for investors to produce audiovisual works in Serbia.
The goal of the decree, which will be implemented by the Ministry of Culture and Information by allocating funds for that, is to increase the number of film projects realized in Serbia, encourage the creation of cinematographic works, as well as promote Serbia’s potential in this area.
It is envisaged that incentive funds for the shooting of a feature, documentary, animated, dedicated, television film, or series will be allocated in the amount of 25 percent of the eligible costs.
For an audiovisual work for which the production budget exceeds five million euros, incentive funds will be allocated in the amount of 30 percent of the eligible costs.
In order to mitigate the economic consequences for audiovisual production in Serbia due to the pandemic, the novelty is the change of the provisions which regulate the minimum budget for a dedicated film and for an individual episode within a TV series.
That now amounts to 150,000 euros, instead of the previous 300,000 euros, and it is predicted that the animated series of ten episodes will have a total duration of at least 40 minutes, instead of the previous 50.
The right to an incentive may be exercised for the production of a feature film, a TV film and a feature-length documentary film lasting at least 70 minutes and an animated film intended for screening lasting at least five minutes, then for a TV series of at least three episodes, provided that lasts a minimum of 40 minutes.
Funds can also be applied for with an animated series of at least ten episodes lasting a total of at least 40 minutes and a documentary TV program lasting at least 40 minutes.
Incentive funds will be awarded on the basis of a constantly open public call issued by the Ministry of Culture and Information, and the request will be submitted to an expert commission whose task will be to evaluate the request and determine whether the work meets the conditions for funding. The commission will be formed by the Government with a mandate of one year.
The funds that will be allocated to the investor are non-refundable through the reimbursement of part of the eligible costs incurred in Serbia, BizLife reports.
