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CANNES 2005 MARKET Belgium

Moviestream promotes Belgian tax shelters

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Belgian financier and producer Gauthier Broze announced yesterday in Cannes the creation of two new companies: Moviestream S.A. set up to try to raise €15m in three years for low budget European films, and Moviestream Filmed Entertainment (MFE), which will finance, produce and acquire feature fims with international appeal.
With Moviestream S.A., Broze will assist private investors in using the new Belgian tax incentives that allow Belgian producers and foreign co-producers with Belgian to invest up to a third of pre-tax profits into a single film with a maximum investment of €500,000 per year. Investments are tax deductible up to 150% with a maximum tax advantage of €750,000 a year per company.

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"We believe the time is right in Belgium to make cost-effective low budget films. So far in 2004-2005, our company MFE has raised more than €2.5m in tax shelter investments. Our ambition is to raise €15m over the next three years in tax shelter investments as well as €3m in equity" he said.

Four European co-productions on which MFE has acted as financial co-producer have benefited from those tax shelter investments: Miss Montigny [+see also:
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directed by Miel van Hoogenbempt starring Ariane Ascaride, a co-production between Entre Chien et Loup (Belgium), Kalo Film (France), Samsa Film (Luxembourg), and Ipso Facto (UK), Belhorizon directed by Inès Rabadan co-produced by Need Productions (Belgium), OF2B (France), and Tarantula (Luxembourg), Black Out [+see also:
film review
trailer
film profile
]
directed by Martine Doyen co-produced by La Parti (Belgium) and OF2B (France), and Comme tout le monde [+see also:
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film profile
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directed by Pierre Paul Renders starring Gilbert Melki. The film is produced again by Entre Chien et Loup with Samsa Film (Luxembourg), Les Productions Lazennec (France), Samira (Luxembourg) and Tradewind Pictures (Germany).
Among MFE’s own projects are an English and Italian language comedy: Rigatoni, adapted from Tonino Benacquista’s best-selling novel La commedia des ratés, and Rouge Caviar set in Gauthier Roze’s previous familiar environment: a law firm. The project to be shot in French will star Belgian star Benoît Poelvoorde.

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