Zelensky signs law to cut video production costs for foreigners

On Aug. 11 President of Ukraine Volodymyr Zelensky has signed amendments to a law that aims to make Ukraine’s film production industry more affordable for foreign companies. The law came into force on Aug. 13.

As stated on the parliament’s website, foreign companies are now excused from being taxed for subsidies they receive from the Ukrainian government to partially cover their film production costs in Ukraine. In addition, the film industry’s services exported abroad now have no value-added tax. This covers such services as: production and composition of videos, motion pictures, animated films, television programs, advertisement videos, photo advertising materials, and computer graphics.