New 20% tax incentive for filming in Iceland

The Icelandic government has approved an increase of the tax credit on foreign films and tv productions, to make Iceland more competitive as a filming location.

As a major boost for the local film industry and economy, the Icelandic government approved in early April, the increase of the tax credit on foreign shoots from 14% to 20%, to make Iceland more competitive with other filming locations.

Producers of film and television programmes can now apply for reimbursement from the Icelandic State Treasury for 20% of their production spend in Iceland. Since the country is a member of the European Economic Area, film and TV projects shot locally can receive European content status.

Examples of larger projects filmed in recent years in Iceland:

  • Journey to the Center of the Earth
  • Batman Begins
  • Stardust
  • Die Another Day
  • Flags of our Fathers
  • Lara Croft: Tomb Raider
  • The Amazing Race 6

Read more about the new tax incentive: