June 13th, 2011: New Film Law in the DR just in Time!

The DR has a brand new Film Law that is aimed at encouraging filming of movies in the DR and it is administered by the General Department for Cinematography (DGCINE), under the Ministry of Culture. Dominican President Leonel Fernandez has appointed Ellis Perez as the new director general of Cinematography.

Of special interest to us are the Fiscal Incentives for Investment in the National Film Industry: Investors who invest in Dominican feature film projects are entitled to deduct one hundred percent (100%) of the real value invested for the purpose of calculating income tax for the tax period in which the investment is made. The amount of this investment cannot exceed twenty five (25%) of the total tax payable by the investor for the current fiscal year.

This is excellent news for us, as we plan on approaching a number of large Dominican corporations for financial support.