Reimbursements for film production raised to 25%

In a move to spur further investment in the film industry, the Icelandic parliament passed a new law on May 31 that allows film producers to apply to the state treasury for a reimbursement of 25% of costs incurred by film and television productions shot in Iceland.

The new law takes effect at the beginning of 2017 and will last for five years. Until then producers will still be allowed to apply for the current 20% reimbursement.