"Ghana bets on tax breaks to attract global filmmakers"

" Ghana bets on tax breaks to attract global filmmakers \r\n Already buzzing with activity, Ghana\u2019s film sector is adding tax rebates to its portfolio of reasons why global productions should consider it as their next filming destination. \r\n\r\n Bonface Orucho, bird story agency \r\n\r\nGhana's move to introduce tax incentives for film productions marks a significant step in its quest to become a global film and content creation hub.\r\n\r\nBy offering incentives to filmmakers, Ghana hopes to attract more global productions and carve out a niche for itself as a favourable shooting location on the continent, potentially reshaping its burgeoning film sector.\r\n\r\nA 20% tax rebate and other fiscal incentives, such as import duty exemptions on film production equipment, were revealed during President Nana Akufo-Addo's State of the Nation address at the country\u2019s parliament in February 2024.\r\n\r\n\u201cThis should provide another tangible reason for Ghana to be the chosen country for film production,\u201d he stated during the address.\r\n\r\nThe presidential announcement is the latest in a series of initiatives to promote Ghana as an ideal audiovisual filming location.\r\n\r\nThe National Film Authority launched the \u2018Shoot in Ghana\u2019 campaign in 2022, which has significantly boosted the sector, especially recently with the NFL selecting Ghana as the location for the filming of its \u2018Born to Play\u2019 Super Bowl commercial.\r\n\r\nThe commercial features a young Ghanaian boy pursuing his passion for American football. It aligns with the NFL's initiative to highlight global diversity and inclusivity while encouraging opportunities for aspiring players worldwide.\r\n\r\nAccording to Juliet Asante, the chair at the Ghana National Film and Television Institute, the commercial employed more than 1500 Ghanaians. There were \u201conly 7 foreign crew members, with the rest of the team being local talent,\u201d she said.\r\n\r\n \r\n\r\nApart from this commercial, \u2018Girls Trip 2\u2019, an American comedy film about four college friends who reunite and go on a chaotic trip, also selected Ghana as its filming location. The film\u2019s release date is set between 2024 and 2025, according to Collider.com, a movie news platform.\r\n\r\nFrom \u2018Woman King\u2019 to \u2018How I Got Here\u2019, \u2018Territorio Africano\u2019 and \u2018Africa from Above\u2019, the National Film Authority lists 51 international films produced in Ghana in 2022 alone, evidence of the country\u2019s growing appeal among international filmmakers.\r\n\r\nTax incentives and other fiscal benefits promise to even accelerate this growth further, as evidenced by the impact witnessed in some of the countries where similar programs have been implemented.\r\n\r\nMauritius introduced a film rebate scheme in 2013, with the government contributing between 30% and 40% cash rebates on qualifying film production expenditures incurred by film producers shooting in the country.\r\n\r\nProductions with a filming schedule of 90% or more in Mauritius are immediately eligible for the full 40% rebate. The less shooting activity there is in the country, the fewer rebates are offered.\r\n\r\nAccording to UNESCO, the Mauritius film rebate scheme \u201chas led to an increase in the inflow of currency to the country, a contribution to tax revenue, the creation of employment opportunities, an increase in foreign direct investment, the talent development of local art lovers (artists, producers, etc) and the development of a film industry in Mauritius.\u201d\r\n\r\nA similar impact is evident in South Africa, which introduced a rebate program in 2004 and then provided a 25% rebate on qualifying local production expenses. This amount was later increased from 25% to 50% for local productions.\r\n\r\nFrom Invictus to Black Panther, the list of award-winning films that have been shot or produced in South Africa is long, an achievement that has been fueled, at least in part, by the incentive program.\r\n\r\nToday, the Rainbow Nation is one of the world's leading hubs for international film and television shoots, with trends reaffirming its growing appeal. In 2022, 3900 film production permits were issued in Cape Town alone, according to the City of Cape Town\u2019s Film Permit Office.\r\n\r\nThe 2018 National Film and Video Foundation (NFVF) Economic Impact Assessment found the local film industry contributed R5.4bn (almost US$300 million) to the country's GDP in the 2016\/17 financial year, highlighting substantial economic gains from increased production.\r\n\r\nMorocco also offers foreign productions a cash rebate of up to 30% on filming expenses over US$1 million. In 2022, international filmmakers invested more than US$100 million in the country, according to the Marrakech Film Commission.\r\n\r\nAfrica's film and audiovisual industries currently generate around US$5 billion a year. However, the sector has the potential to expand to US$20 billion annually, potentially creating 20 million jobs, according to UNESCO.\r\n\r\n bird story agency \r\n\r\n \r\n\r\n \r\n "

"Ghana bets on tax breaks to attract global filmmakers"

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