Copyright 2001 Source: Variety

[ March 1st 2001 ]

As part 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.

"The 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.

Paramount 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.

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