Business Day Podcast – SA’s Capacity to Attract Foreign-Funded Film Projects Dampened by New Rules

In the latest edition of the Business Day Spotlight, the focus is on the recent cuts in tax incentives for foreign film and television projects, a development that has raised significant concerns within South Africa’s film industry.

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), form a panel and join host Mudiwa Gavaza to delve into the implications of these changes.

According to Cloete, the industry, which previously flourished on international collaborations, is now experiencing a downturn as professionals seek opportunities elsewhere. The revised foreign film tax rebate now offers 20% on qualifying expenditure, with an additional 5% for postproduction services provided by black-owned companies, capped at R25m, down from R50m.

The panel discusses the challenges faced by local industry players due to the rule changes and suggests potential avenues for improvement. Key topics include the government’s decision to cut tax incentives for budget projects, SA’s ability to compete with other countries for significant budget projects, and how producers are working to engage the state on these matters.

Click HERE to listen to the podcast.