Indomina Pinewood Studios will be launched in Juan Dolio
The Dominican Republic would rise in the eyes of the movie filming industry and investors with the construction of Indomina Pinewood Studios and if the proposed filming incentive law is approved by congress.
The country could be placed as the most attractive destination in the Caribbean for international actors to shoot films.
According to the information, the new Indomina Pinewood Movie Studios, which would be launched on Wednesday 23rd of June 2011, would be the most senior of its kind in the region and one of the few available to Latin America. Indomina Pinewood Studios would be built by Vicini, in association with the British company Pinewood.
It is expected that the film industry will emerge in the country if in addition to building this infrastructure, which is expected to be completed in 18 months. Also with the approval of the new bill of incentives for the film industry submitted to Congress by President Leonel Fernández last year it could be a new dawn for the Dominican Republic and how it will be seen by investors worldwide.
Among other incentives, the law would allow companies to invest in feature Dominican film projects to deduct expenses taxes to up to 100% in order to foster that sort of productions.
The bill also creates a fund to promote the film industry that would feed from fourteen sources, including resources allocated in the General State Budget, of the revenue from national taxes on the ticket or entrance fee showrooms to pay customers to exhibitors and 100% of Revenue Tax on the Transfer of Industrialized Goods and Services (ITBIS), on sales and movie rental establishments engaged this business or any other tax replacing it, as well as 100% of revenues generated by the ITBIS charged with sales of products within theaters or any other tax replacing it.
Any good film shot on location at the tourist destinations could become a catalyst for the Dominican Republic real estate and villa rental industry to boom because good films bear a lot of weigh in tourism promotion when the advertising goes worldwide. The villas for rent in Sosua and Cabarete would greatly benefit from a large movie cast and media people demanding rooms that would most probably be full in most hotels during high season.
Puerto Rico adopted a law on incentives for the film industry in 1999, which was extended earlier this year, which has attracted international actors for the filming of movies that have a significant economic impact on the island. Some of the best locations for movies in the Dominican Republic are the Colonial Zone in Santo Domingo, The beaches and tourist areas of Puerto Plata, Cabarete, Sosua, Samaná, Bavaro, Punta Cana and The Southern Barahona.
Source: Dominican Republic Live
Category: DR News |