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Government Introduces 20% Tax Incentive to Boost Film Industry”

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Government has announced plans to introduce a significant tax rebate in bid to bolster the country’s cinema sector and position it as a competitive destination for film production.

The proposed tax rebate, set at 20%, is aimed at incentivising strategic film productions and fostering growth within the local filmmaking ecosystem.

The move is similarly expected to yield substantial benefits for stakeholders across the industry spectrum.

President Akufo-Addo revealed the initiative during his delivery of the State of the Nation Address today noting that measures were currently undergoing deliberation by Cabinet and are poised to be officially unveiled in the soon.

“Government, through the National Film Authority, is committed to supporting the production of world-class content and films, as well as increasing cinema infrastructure in Ghana and, by extension, on the continent,” stated President Akufo-Addo.

The President further elaborated on the comprehensive fiscal incentives being developed to bolster the film sector, including income tax and VAT incentives, import duty exemptions on film production equipment, and film financing reliefs.

“This favourable fiscal regime for cinema projects should provide another tangible reason for the choice of Ghana as a film production country,” the President remarked.

“This favourable fiscal regime for cinema projects should provide another tangible reason for the choice of Ghana as a film production country,” the President remarked.

additional source : graphic news

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