London Bollywood Tax
[box_dark]New Tax Reliefs in London Set to Attract Bollywood[/box_dark]
According to a chief visiting official, the city of London is ready to welcome Bollywood along with the Indian television industry for exciting new ventures as soon as the impressive Creative Sector Tax Relief or CSTR comes into effect from the following year in Britain. Boris Johnson, the Mayor of London states that the new CSTR as well as the present tax advantages available to moviemakers and film co-production deal between Britain and India is set to make London an excellent option for members of the Indian showbiz community.
Johnson, who is in India at the moment for a five-day visit, stated at a high-level summit with major Indian television and film executives that two new movies from Bollywood are expected to be shot in London in 2013. He disclosed that the third installment, âHousefull 3â in the highly successful Indian comedy franchise, âHousefullâ is slated to be shot completely in the scenic locales of London. Johnson also claimed that he had sent an invitation to Sajid Nadiawala, the Indian movie producer, to shoot âKickâ, which is going to be his directorial debut with Salman Khan, in the city of London.
The post-production process of both the anticipated movies with a total budget of approximately 35 million pounds is going to be carried out in the Soho area of London.
Johnson noted that he was thrilled when he came to know that Sajid Nadiawala had chosen London to shoot not one, but two of his films. He added that Mumbai and London are key players on the international stage for the arts and creativity, a fact which was showcased in the latest World Cities Culture Report. He personally believes that filmmaking is a huge aspect of the two cities, with the present 2012 year having been excellent for the London industry.
[box_dark]Future Plans for the Indian Film Industry[/box_dark]
Johnson reveals his intention is to make it as simple as possible to shoot movies in the city, whether for featuring iconic landmarks as a grand backdrop or making use of Londonâs famous post-production facilities. He also remarked that it might be possible to use the amazing Olympic Park as the location for a shot.
London happens to be the third busiest city in terms of production in the world. On a daily basis, about 40 crews gather on the city streets to shoot movies. The studios in the region constitute almost 75 percent of the film industry in Britain. The city was featured in the latest Yash Raj release âJab Tak Hain Jaanâ.