PODCAST | New rules blunt SA’s ability to attract foreign-funded film projects

Cuts in tax incentives for foreign film and television projects is the focus in this edition of the Business Day Spotlight.

Our host Mudiwa Gavaza is joined by Nick Cloete, Animation SA’s head of policy and outgoing National chair; Paul Raleigh, director at Hollard Film Guarantors; and Ayanda Sibisi, interim general secretary of the Independent Producers Organisation (IPO).

SA’s film industry has raised concerns over government reforms that have shrunk tax breaks for foreign-funded projects. It is feared the contentious policy changes will stifle growth in the sector and lead to losses of billions of rand in potential investment.

The industry, which once thrived on international collaborations, faces a downturn as professionals seek greener pastures. The revised foreign film tax rebate offers 20% on qualifying expenditure, with an additional 5% for postproduction services provided by black-owned companies, capped at R25m, down from R50m.

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The panel outlines the issues and challenges faced by local industry players because of the rule changes, and offers suggestions on how the situation can be improved.

Topics of discussion include: the government’s move to cut tax incentives for budgets projects; SA’s ability to compete with other countries for big budget projects; and how producers are working to engage the state on these matters.

Business Day Spotlight is a MultimediaLIVE Production.