Photography for illustrative purposes. (File/CRH).
(Then24.com).-The regulation The Film Investment Attraction Law, which facilitates the arrival of projects from that industry to the country, has already been signed by the Executive Power.
With the regulation, the benefits are enabled so that investors in this sector can begin the application of the incentives defined in the law, such as the total exoneration of the tax on the rent and any other tax on profits, the return and exemption of all taxes on the import permanent transfer of goods to the national territory to carry out film activities, as well as the exemption and suspension of all temporary import taxes on equipment.
“The approval of this regulation means a window of opportunities for Costa Rica. It is to place our country in the lens of large international productions. This translates into great potential to attract film investments that can generate more chains with our offer of locations, goods and services.
It means bringing more economic and social development to the entire country, especially to the regions outside the Greater Metropolitan Area (GAM), and it means economic reactivation at a time when the country needs it most,” said the Minister of Foreign Trade, Manuel Tovar.
The regulation establishes all the operative dispositions that must be followed for the firms interested in carrying out projects audiovisual in Costa Rica and benefit from the incentives offered by law.
Globally, the film industry exceeds $41 billion. For this reason, the Ministry of Foreign Trade (Comex) and the Promoter of Foreign Trade (procomer) joined, five years ago, the development of the audiovisual industry through the creation of the Film Commission.
