Instructions for applicants
Instructions to applicants for reimbursement in respect of filmmaking and television programming pursuant to Act No. 43/1999, as amended, and Regulation No. 131/2001, as amended.
The application for reimbursement shall contain the following:
- Name of applicant
- Legal domicile
- Postal number and city
- Telephone number
- E-mail address
The application should be accompanied by the following documents:
- A declaration explaining how the motion picture or television programme conforms to the aims of Act No. 43/1999, see Article 4 of the Act and Article 2 of Regulation No. 131/2001.
- A certificate from the Register of Firms confirming the registration of the applicant, together with the articles of association or minutes of the initial shareholders' meeting which include a memorandum of association and articles of association of the applicant.
- A production plan and itemised budget for production costs and financing, in addition to confirmations from financers and information on proposed distribution.
- Information on the substance of the motion picture or television programme, including a brief excerpt, manuscript and information on shooting locations.
- Information on the principal parties involved and the share of domestic parties in the production.
Applications cannot be processed until the required documents have been submitted. Applicants may enclose with their application any other documents which in their opinion will facilitate the processing of the application. The committee appointed pursuant to Article 3 of Act No. 43/1999 to process applications may request further documents if necessary.
More information about the 25-35% reimbursement
- Producers can apply for reimbursements from the State Treasury of 25% of the costs incurred in the production of films and television programs in Iceland.
- Production can receive 35% reimbursement if the project meets all the following conditions:
1. Production costs incurred in the production of the motion picture or television material concerned in this country must be a minimum of ISK 350 million.
2. The project in question must have a minimum of 30 working days in Iceland, either consisting of actual film production (shooting) days or defined post-production working days. Of the 30 working days a minimum of 10 shooting days in Iceland is however always required.
3. The number of staff working directly on the project shall be 50 at a minimum and this work shall amount to 50 working days. It is a requirement that both salary and payments to employees and contractors, shall be taxed in Iceland.
- When more than 80% of the total production cost of a motion picture or television program is incurred in Iceland, the reimbursement is calculated on the basis of the total production cost incurred within the European Economic Area, Greenland and the Faroe Islands. The reimbursement scheme does not cover the production of commercials or music videos.
- Production costs refer to all costs incurred in Iceland deductible from the revenues of enterprises pursuant to the provisions of the Act on Income and Net Wealth Tax.
- Payments pertaining to employees and contractors are only to be included in production costs if they are verifiably taxable in Iceland.
- Applications must be submitted to the Icelandic Film Centre before production commences in Iceland, and they can be submitted at any time of the year.
- Projects must fulfil certain in order to receive a letter of intent for reimbursement.
- Once production is completed, a final assessment of the project is made to confirm that it is still eligible for reimbursement.