Malaysia to introduce 30% production rebate
The Malaysian government is set to introduce a rebate scheme for local and international films shooting in Malaysia.
Foreign films that spend $1.7m or more while filming in the country will be able to claim back 30% of their spend. Local films that spend $800,000 or more will also be able to claim back 30%. The expenses of the productions will be audited by the relevant authorities before the rebate is given.
The move is designed to boost Malaysia’s production industry and bring international films into the country, which will open the Pinewood Iskandar Studios in 2013. “The incentive should bring benefits including the transfer of technological know-how, more jobs for local talent and is also good for tourism,” said Datuk MD Afendi B Datuk Hamdan, chairman of Malaysia’s National Film Development Corp (FINAS).
Malaysia is also planning to launch a contents market and locations showcase, the Kuala Lumpur Communications and Content Industry Market (KLCCIM), which has the tentative dates of Nov 16-18. The Kuala Lumpur International Film Festival will be rebranded and moved to the same time of year.
FINAS and promotional agency GCMA are hosting a delegation of more than 30 Malaysian content sellers here at Filmart. GCMA also announced that KL-based Animasia Studio is planning to release an animated feature based on its popular TV series Bola Kampung by the end of the year.