A day before the opening of the Cannes Film Festival, Israel's Industry & Trade Ministry on Monday announced a special tax break for foreign filmmakers that produce their pictures in the Jewish state.
According to the deal, foreign film producers will be granted a 20 percent tax break if they film in Israel and collaborate with Israeli production companies.
The government is testing several different avenues to boost Israel's economy amid the current global economic downturn. With Israel's beautiful and diverse landscapes and its advanced hi-tech infrastructure, high-end film production could be a perfect fit.
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