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South Africa and Ireland are scheduled to finalize a co-production agreement during the 65th Cannes Film Festival this month which will allow productions from both territories to qualify for the incentives available in each country.
The treaty, the latest in a string of similar co-production agreements with Canada, Germany, Italy, Australia, New Zealand and the UK, will officially be signed on Sunday, May 20th at 9.30 am at the Rado Plage, Cannes Croisette. South Africa’s delegation will be led by Paul Mashatile, Minister of Arts and Culture, with representatives from both the Department of Arts and Culture (DAC) and the National Film and Video Foundation in attendance.
For qualifying productions, South Africa currently offers production incentives that allow for a rebate of up to 35% of spend up to ZAR6 million, and 25% for the remainder of the qualifying production expenditure. Foreign-owned productions may qualify for a rebate on 15% under the QSAPE initiative. For more information on production incentives, visit NFVF.co.za