This week, a historic tax break of 45 million shekels ($13 million) for Israeli TV and film companies was enacted into law just before the government fell.
The refund, which was first announced in the latter part of last year and is valid for two years following approval, would give productions made for a minimum investment of 500,000 shekels ($145,000) 30 percent of the budget. Over the first two years, it is worth a total of 45 million shekels ($13 million).
An Israeli production business can help with funding, which will only be given out for TV dramas, movies, and documentaries.
The Israeli film industry has produced some of the most highly acclaimed drama in the world, such as Fauda and Shtisel. The production sector had long yearned for a boost, comparable to the incentives that have revolutionised local production in countries like the UK. The legislation was a product of the cooperation of five different ministries, according to Tzvika Goldman, CEO of the Israeli Producers Association, and it was passed “in the 90th minute before the dispersal of the Israeli Parliament.”
However, the breakdown of the government, which might trigger a fifth Israeli election in just three years and open the door for Benjamin Netanyahu to run again, has halted Israeli producers’ efforts to increase rights and regulations.
In April, Deadline reported that the IPA had been working on legislation that would have changed the game. It would have required streamers to commission a certain amount of local content, in line with European countries like France, and allowed producers to keep 50 percent of the rights to their programmes. Following this, Netflix launched a charm offensive in late May, sending Larry Tanz, EMEA Vice President and Head of Original Series, to the country for five days to meet with actors, executives, and important backers.
The reexamination of the legislation will now have to wait until the formation of the new administration.