Cannes – The National Film Development Corporation (FINAS) has announced the introduction of Film in Malaysia Production Incentive.

Local as well as foreign film and content productions, including feature films, animation, documentaries, television productions and commercials, will be eligible for a 30 percent cash rebate on audited in-country spend as long as they choose Malaysia as a location for production and post-production.

To be eligible for the rebate, productions need to meet a minimum spend criteria of RM2.5 million applicable to Malaysian productions and RM5 million in-country spend applicable to foreign productions.

The introduction of the new production incentive is considered a major breakthrough and a huge boost for the Malaysian film and television industry.

The “Film in Malaysia” Production Incentive Rebate will be effective from January 2013, with FINAS tasked as the agency for processing all applications and approvals for this new production incentive.