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In order to stimulate development of film industry (meaning development of production of audiovisual works which is official formulation), as well as to stimulate development of film/related industries in Serbia, Government of Serbia adopted Regulation on incentives to investors to produce audiovisual works in Serbia (issued in Official Gazette of RS No 72/2015).
Investor as defined under above-mentioned Regulation is every legal entity or natural person on behalf of audiovisual works are produced and who financed or co/financed production of such works. Furthermore, under said Regulation incentives shall be allocated as grants, through refunding a segment of qualified costs realized in the Republic of Serbia. Incentives shall be allocated in the amount of 20% of qualified spend made by the investor in the Republic of Serbia.
As qualified (acceptable) costs the following shall be recognized:
1) costs pertaining to producing an audiovisual work that have occurred and that have been disbursed to legal or natural entities in the territory of the Republic of Serbia, and which are related to purchased goods and provided services, use of locations, royalties payoff to the crew members who are residents of the Republic of Serbia or to foreigners who are residing for at least a year in the territory of the Republic of Serbia, in accordance with the regulations of the Republic of Serbia;
2) incurred costs pertaining to the use of goods, that is leasing of movables and immovables may be recognized only if the goods, and/or movables and immovables, are being property of legal or natural entities, in the territory of the Republic of Serbia.
Costs that are specifically not being recognized as incurred qualified costs pertaining to production of an audiovisual work shall be the following: marketing costs, costs related to the real estate purchase, distribution costs and costs of paid value added tax in terms of which the refunding has already been conducted or the process in question is ongoing based on the law governing the value added tax.
CONDITIONS FOR REALIZING THE RIGHT TO RECEIVING INCENTIVES
The condition that the investor is to meet for the purpose of realizing the right to receiving incentives shall be to designate funds intended for realizing a project in the Republic of Serbia for the purpose of producing an audiovisual work, in the amount exceeding minimum funds required for the specified format:
1) in terms of a feature film, TV film and TV series: 300,000.00 EUR;
2) in terms of an animated film, audio and/or visual coproduction of an audiovisual work: 150,000.00 EUR;
3) in terms of a special-purpose film: 100,000.00 EUR;
4) in terms of a documentary film: 50,000.00 EUR.
Also, right to receiving incentives may be realized for producing the following:
1) a feature film, TV film, feature-length documentary film and animated film intended for broadcasting, that last at least 70 minutes;
2) TV series containing at least three episodes not shorter than 40 minutes; 3) documentary programme not shorter that 40 minutes.
ALLOCATION OF INCENTIVES
Incentives shall be allocated based on the permanently open tender for providing incentives that is announced by the ministry competent for economic affairs. In terms of the current year, the tender shall be closed on September 30. And requests for allocation of incentives have to be submitted to Commission in charge for allocation of incentives before Ministry of economic affairs with supporting documentation which verifies fulfillment of conditions.
In compliance with said Regulation, the Commission shall evaluate all of the received requests and it shall determine whether the investor or the audiovisual work meet the conditions set for providing incentives within seven days from submitting the requests. The Commission shall also pass a decision in order to determine if all of the conditions required for providing incentives are being met.
If request of investor is accepted, investor may apply for allocation of incentives meaning reimbursement of costs as defined above, in further term of 45 days after production of audiovisual work at the territory of Serbia is finished. Request for payment shall be supported by supporting documentation.