Saudi Arabia has raised its rebate for film and TV productions from 40% to a whopping 60% in a clear signal that the kingdom is keen to keep on driving it nascent industry after the removal of its religion-related 35-year cinema ban in late 2017. The Saudi Film Commission on Friday at the Cannes Film Festival unveiled what it called its “updated cash-rebate program,” that, it said in a statement “introduces a set of practical enablers that support every stage of production through clear processes, streamlined pathways, and competitive financial support.” “These updates include improved and accelerated disbursement processes, enhancing cash flow efficiency for production companies and creating a more supportive operating environment for project delivery in line with production timelines,” the statement added. Popular on Variety The Saudi rebate, which was first introduced at 40% in 2022, was until recently considered difficult to navigate.…