While Israelis
are unlikely to wake up inside the set of “The Truman Show” anytime soon, the government does want to turn Israel into a huge filming site.
A bill allowing the Treasury to grant foreign film producers who wish to film in Israel extensive financial benefits passed the first reading Tuesday.
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The bill includes clauses such as a 20% decrease in the cost of movie productions whose expenditures are NIS 8 million (roughly $2.3 million) or more; a 15% decrease in the production cost for movies that were co-produced and where foreigners spent NIS 4 million (about $1.15 million) or more in Israel and value-added tax benefits for production services given to foreigners for producing movies in Israel.
The proposal, which will be ratified on Thursday, was prompted by a suggestion made via a special committee.
Preparation work for the bill was jointly undertaken by the Ministry of Foreign Affairs and the Consulate General of Israel in Los Angeles who presented the position of the film industry in Hollywood.
The Finance Ministry says that Israel has some advantages that make it attractive to movie producers. This includes the short distances, wide diversity of landscapes, the growing popularity of Israeli films, and the ease of finding equipment and professional production companies.
Finance Minister Ronnie Bar-On told Yedioth Ahronoth Tuesday that “this move will add additional jobs for Israeli workers and holds great economic potential.”
Movies that have already been filmed in Israel include“Rambo III,” which was filmed here in 1986 and raked in NIS 14 million ($4 million) for the Israeli economy, “The Assignment” with Ben Kingsley and Donald Sutherland which contributed $3.5 million to the Israeli market and Iron Eagle, filmed in 1991, which brought in $6 million.
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