Argentina aims to encourage audiovisual content production

The Cinema and Visual Art’s National Institute’s (INCAA) President, Ralph Haiek, together with Argentine’s Nation Production and Labor Ministry, Dante Sica, and representatives from the Argentine TV, Audiovisual, Interactive and Data Services (SATSAID) and the Argentine Actors Association, ran an agreement to promote audiovisual production in different international content distribution platforms.

According to the information detailed in the agreement, the Argentine Culture Ministry and INCAA will promote several measures to encourage the production of series in Argentina, in order to promote the development of investments over USD 90 million by foreign OTTs. For this, an economic reimbursement mechanism will be promoted for high impact series production, whose direct beneficiaries will be Argentine producers that are hired by foreign OTTs, to reimburse 15% of the expenses made in Argentina. The agreement also contemplates the Value Added Tax (VAT) refund for audiovisual production companies, as established in the Federal Administration of Public Revenues (AFIP) General Resolution No. 4467, which will become effective next July 1st.. The labor unions also committed themselves to establish guidelines for negotiating production agreements.

Heik said that the agreement ran means ‘the beginning of a revolution for the audiovisual industry’, and expressed that it became possible thanks to all those involved teamwork and the Argentine talent, which he described as ‘one of our greatest capitals’.