Tax Credit - Iceland

http://www.filminiceland.com/incentives/
Special legislation has been passed in Iceland which aims "to enhance domestic culture and promote the history and nature of Iceland" by temporarily supporting motion pictures and television programmes produced in Iceland. Reimbursements are offered for film and TV production costs incurred in Iceland. Producers can apply for reimbursements from the State Treasury of 20% of the costs incurred in the production of films and television programmes in Iceland. When more than 80% of the total production cost of a motion picture or television programme is incurred in Iceland, the reimbursement is calculated on the basis of the total production cost incurred within the European Economic Area. The reimbursement scheme does not cover production of commercials or music videos.

EU Film Funds

European content classification
Since Iceland is a member of the European Economic Area, films and television programmes made in Iceland receive European content status. This entitles Icelandic productions to be classified as European material when released in Europe, without affecting any quotas on the release of non-European content material there.

Eurimage
Through Iceland's membership of the European Economic Area, films and television programmes made in Iceland can receive grants for film production offered by the European Union and its member countries.
Remember to exclude the tax credit from your film budget.
Check QuickFilmBudget.com for a sample film budget!