Icelandic Film Industry Brings in ISK 7 Billion

The turnover of the Icelandic film industry so far this year has totaled ISK 7 billion (USD 56 million, EUR 45 million, mostly from foreign movie projects filmed in Iceland, according to Iceland Review.

The Icelandic state refunds 20 percent of foreign film projects’ production costs incurred in Iceland. The State Treasury has so far refunded ISK 1.4 billion this year. The national budget for 2014 allowed for ISK 837 million, reports. Finance Minister Bjarni Benediktsson submitted a draft parliamentary bill for the additional ISK 580 million in funds at Alþingi, Iceland’s parliament, on Friday. 

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