Buenos Aires Launches International Shoot Rebate

variety.com:

Buenos Aires is set to offer Argentina’s first incentive for international shoots, a 20% cash rebate on productions’ expenditure in the Argentine capital.Capped at Pesos 75 million ($600,000) per title, the BA Cash Rebate requires a minimum spend of Pesos 80 million ($680,000) and an at least four-day shoot in Buenos Aires.Whether shooting totally or partially in the city, both co-productions and totally foreign titles are eligible for incentives.

Reimbursement must be made via an Argentine co-producer or service company on a totally overseas shoot. That company can be based anywhere in Argentina.BA Cash Rebate, as the new incentive scheme is called, is set to launch October, said Buenos Aires City Culture Minister, Enrique Avogadro.

Total moneys for a first tranche of funding come in at Argentine Pesos 491 million ($4 million), he added. The new incentive will be presented in Buenos Aires on May 17 at Buenos Aires’ emblematic Teatro Colon.The rebate takes in films and fiction series and can be awarded at pre-production, production and post-production stages, said Avogadro.Applications will be especially valued if they feature Buenos Aires and its iconic landmarks in their storylines.Buenos Aires rebate funding pales before top global offers such as France (30% of spend, capped at €30 million ($31.5 million) per title) or Spain’s Canary Islands (50% of a first €1 million ($1.05 million) expenditure).But “this is a point of departure,” Avogadro argued. “If you look at other places in Latin America – Uruguay or Colombia – they all scale up over time.