Uruguayan President, Luis Lacalle Pou, has announced this week the increase to USD 12 million in incentives to support the country’s audiovisual industry, through the Programa Uruguay Audiovisual (PUA). The announcement was made during a visit by the executive to the ‘Reducto’ audiovisual center, located in Montevideo.
The PUA program was created in Uruguay in 2019, and provided support for the reimbursement of expenses and taxes to the audiovisual industry, valued at USD 4 million. In 2020 the figure increased to USD 7 million and, from now on, the refund will be USD 12 million. ‘The country continued filming during the pandemic period, so it became an opportunity for many people who produce, film and work’, the Uruguayan ´President reported on the initiative.
The aim of the program is to promote audiovisual production in the country by attracting international productions, which contribute to the improvement of local capacities, the professionalization of the sector and the competitive addition of the country into the international productions market. Likewise, PUA aims to support those foreign audiovisual productions that are totally or partially produced in Uruguay, including production services for feature films, short films, video clips, animations, documentaries, TV series and digital platform distribution formats.
Some of the incentives of the program are the cash rebate, which offers to return a percentage of the expenses, according to the size of the production and with maximum reimbursement limits, in addition to the exemption of the VAT payment for foreign production expenses that are recorded in Uruguay, in addition to having trained technical staff.