After lifting a 35-year religiously-related film ban at the end of 2017, Saudi Arabia raised rebates on film and television productions from 40% to a whopping 60%, in a clear sign that the kingdom is keen to continue promoting its emerging industry.
The Saudi Film Commission unveiled what it called a “state-of-the-art cash rebate program” at the Cannes Film Festival on Friday, saying in a statement it “introduces a set of practical enablers to support every stage of production through clear processes, streamlined pathways and competitive financial support.”
“These updates include improving and accelerating spending processes, increasing cash flow efficiency for production companies, and creating a more supportive operating environment for delivering projects on production schedules,” the statement added.
Saudi Arabia’s rebate was first introduced in 2022 at 40%, but until recently it was considered difficult to administer. But that is changing, said Rasha Al-Emam, CEO of Saudi Arabia’s Yellow Camel Studio, who is in Cannes to attract international productions. “Three years ago, it wasn’t really a user-friendly rebate,” she told Variety. “But now we have systems in place, we have processes, guidelines and government approvals in place. It’s all on paper,” she added.
“This announcement represents an extension of the Kingdom’s vision to build a sustainable film sector rooted in empowerment and partnership,” Abdullah bin Nasser Al-Qaftani, CEO of the Saudi Film Commission, said in a statement.
“Over the past period, we have undertaken a number of regulatory and operational developments related to the incentive program with the aim of improving implementation efficiency and providing clearer information to filmmakers, most notably the launch of a financial audit and disbursement procedure guide,” he added.
“Through this program, we are focused on developing an integrated ecosystem that enables filmmakers to work with confidence, empowers the private sector, and attracts high-quality investments that contribute to the transfer of expertise and knowledge to local talent.”
