Greenlight for film industry tax shelters
After negotiations that dragged on for twenty years, the Belgian government finally implemented tax shelters for its film industry. The measure was approved late of Friday night, 4 April. It has the backing of Belgium’s Film Producers’ Guild and especially Dominique Janne and Patrick Quinet,. despite foreceful opposition from the European Commission.
The system of tax breaks is considered indispensable for the survival of the film industry and will allow Belgian companies to invest in productions either made in in that country or produced by Belgian companies. In return, 150 per cent of the amount invested will be tax-free. In order to be eligible to claim these tax breaks, a film must be first be examined and accepted by both French and Belgian-language film commissions. Belgium’s minister for the Arts, Literature and Audiovisual Issues said he was satisfied with the new measure.
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