India is particularly on the radar of Israel, it being the world’s largest producer of films, with its filmmakers itching to shoot films in newer and newer locations.
The new law, approved by the Israeli Knesset, will lead to tax benefits of up to 20 per cent on goods and services purchased within the country.
Though this benefit will accrue to Israeli production companies only, it could see India-Israel co-productions as the former are expected to pass on these benefits to the foreign production companies.
The law recognises two models, with the first model dealing with productions by foreign filmmakers retaining the services of an Israeli company and the second envisaging films with Israeli co-producers.
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