16/07/2013 - The European Commission just approved France's TRIP (tax rebate for international production). The rebate cap soars from €4M to €10M

The European Commission just approved France's TRIP (tax rebate for international production) improvements, the very changes that were voted by French Parliament in December 2012. The rebate cap soars from €4M to €10M, and accommodation expenses in France are from now on eligible to the 20% off tax discount.

As if done on purpose, this happens exactly the same day as the Despicable Me 2 ("DM2") US release: after huge starts in both the UK and France, the Chris Renaud and Pierre Coffin animated and hilarious sequel of world hit Despicable Me 1 skyrocketed at the US B.O. with $35M for its first day (July 3rd). Produced by Illumination / Universal and entirely made in France at IMG (Illumination Mac Guff), Despicable Me 2 benefitted from the French TRIP, as did before Despicable Me 1 and Dr Seuss' The Lorax.

"The European Commission kept us waiting for a bit but this is very good news”, commented Film France CEO Patrick Lamassoure. “This much higher cap will help us luring complete shoots, which might also be interested by the Studios de Paris sound stages for example. And the accommodation expenses will make a difference for the projects which come with large foreign crews and stay in hotels in Paris or all over France."

The latest TRIP winners are Eleanor Coppola's first feature Bonjour Anne and the short animated films Minions series (photo) which will be released next year alongside the Despicable Me spin off The Minions.