03-12-2012

Bulgarian Parliament Takes Steps Toward Production Incentives

By
Bulgarian Parliament. Photo: wikitravel.org Bulgarian Parliament. Photo: wikitravel.org

SOFIA: A parliamentary committee has changed an investment promotion law (www.parliament.bg) to allow Bulgaria to reward investors producing films with budgets over 400,000 leva (203,000 EUR) but the form of the incentives is yet to be determined.

The ministries of culture (www.mc.government.bg) and finance (www.minfin.bg) are expected to draft the incentive rules and determine eligibility over the next six months. Lawmakers initially planned to target films with budgets nearly four times bigger but low-budget Bulgarian producers complained they would be excluded.

Proponents argue the incentives will help generate work for actors and technicians but experts have criticized the new plan as too vague. Talk of introducing production incentives has gone on for two years, resulting in two unsuccessful attempts to bring them online.