TAX BREAK FOR
Copyright 2001 www.tombraiderchronicles.com Source:
[ March 1st 2001 ]
of a new Icelandic tax incentive, designed to
entice foreign film makers to utilise the rich
features of Iceland in their productions, Simon
West's Tomb Raider movie could be reimbursed up
to 12% of the costs incurred while filming the
movies Siberian Glacier action scenes in Iceland.
legislation was originally prepared for last year,
but had to be adjusted to international competition
regulations," explained Thorfinnur Omarsson, managing
director of the Icelandic Film Fund, who expects
the country's annual production of five to six
features to double under the new system. Foreign
producers may also set up international trading
companies, liable only for 5% corporate income
tax. ITCs can own, invest in and enjoy profits
from distribution rights or copyrights abroad,
and they may transfer dividends due to treaties
on double taxation.
Pictures silver screen conversion of Eidos Interactives
Tomb Raider series exhausted it's £120m budget
while filming at Pinewood Studios, West London,
and on location in Cambodia's religious Angkor
Wat temples and Iceland's glacier landscapes.
The movie will debut across the U.S June 15th
and will premier across Europe later that month.