Reimbursements are offered for recording costs for music incurred in Iceland. Producers can apply for reimbursements from the State Treasury of 25% of the costs incurred in the recording of music in Iceland. When more than 80% of the total recording cost is incurred in Iceland, the reimbursement is calculated on the basis of the total recording cost incurred within the European Economic Area.
Recording costs refers to the costs enumerated in in Article 6 of the Act on temporary reimbursement of recording cost. Hourly studio rates for recording, wage expenses incurred during the recording for hired performers, producers, engineers or studio personnel, post-production (including sound mixing and mastering), travel and transport costs (including accommodation) for musical instruments and lead performers, own salary, c.f. Article 7. of law No. 110/3016.
In order to apply for reimbursement for recording cost of phonograms, the phonograms have to contain 30 min of music, not more than 18 month passed between the release of the oldest phonogram until the most recent phonogram was released, no more than six months have elapsed since the release of the latest phonogram until application was submitted to the Ministry. Hourly studio rates for recording.
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