|Benefit as a % of spend||25.00|
|Financial cap per production||300000000|
|Do I have to register/set up a company?||Optional|
|Does foreign cast/crew paid in their home country/region qualify as expenditure?|| No|
|Do foreign cast/crew have to pay tax in the host country/state/region?|| Yes|
|Does travel to/from country/region qualify as expenditure?|| Yes|
|Can a production qualify for other national incentives such as cultural programmes if it qualifies for this incentive?|| No|
|Criteria to access the benefit|
- - Minimum shooting days: 10
- - Minimum spend 300000000 (in local currency)
|When will the benefit/incentive be received?|
- - On submission of audited accounts
- - State approx. number of months after completion of audited accounts
|Additional incentives or advantages|
- - VAT / GST /Sales Tax recoverable
- - Eligible productions will be evaluated on:
(1) the degree to which the work creates tourism ("tourism creation");
(2)the degree to which the work contributes to Korean film industry's capacities, ("capacities contribution"); and
(3) the extent to which foreign capital participates in the work ("foreign producer participation").
No more than 50% of the total QPE shall be post-production costs.
Any production cost for which public financing in Korea has been made available shall not be recognized as a QPE.
Travel to Korea by non-resident cast and crew may be included as QPE for incoming journeys:
- for foreign cast and crew who work on the production for a period of 10 days or
- when the airline fare is paid to a business entrepreneur in Korea
The grant is subject to taxation.
Application period : No later than September 30, 2011