TAX SHELTER
Tax shelter in Belgium
The tax shelter in Belgium is a government incentive that allows investors to benefit from tax reductions by investing in eligible audiovisual productions. These tax benefits can be used to offset other taxable income. Investors can benefit from a tax reduction of up to 45% of the invested amount, which can be spread over several years. This means that if an investor invests €100,000 in an eligible audiovisual production, they can benefit from a tax reduction of up to €45,000 over a certain period.
To qualify for the tax shelter, the audiovisual production must be approved by the Belgian Federal Government. It must have a minimum production budget and employ local talent. The real must also be European or the production company must have the rights. The video production company must also pay its taxes in Belgium.
Our production assistant in Belgium can help you start the process by requesting the cinema center for European work approval. This is a file to be compiled to determine that the work is indeed European. The commission reviews the documentation at the beginning of the month and will issue a result by the 20th of the month.
How does the tax shelter work in Belgium?
To make a collection for tax shelter in Belgium, you need to create a file with Shelter.be or another intermediary. You must have 90% of the financing acquired, a detailed budget, proof of financing, and details regarding your production planning. The investor and the film production company sign a framework agreement.
The investor receives a tax certificate. This makes it possible to calculate the minimum European expenditure to be made. The investor has 3 months to pay the amount. The producer has 18 months to cover the expenses. The production can be launched, and the expenses made up to 6 months before the date of obtaining the approval. Fundraising from the Tax Shelter cell is paid after each cost report. Therefore, to receive the money from the Tax Shelter, you must first make expenses.
The money is paid in the current month after sending the cost report to the account of the Belgian company applying for shelter. Production expenses can be incurred up to 6 months before the signing of the agreement and up to 18 months after the signing. Before these 6 months and after 18 from the signing of the framework agreement, the expenses are no longer valid.
As per our production assistant in Belgium, this means that production can be launched 6 months beforehand while waiting for the framework agreement. And that the production must be closed, and the film finished at most 18 months after the signing. This includes distribution costs, communication, and other project closure activities.
How does the tax shelter
work in Belgium?
To make a collection for tax shelter in Belgium, you need to create a file with Shelter.be or another intermediary. You must have 90% of the financing acquired, a detailed budget, proof of financing, and details regarding your production planning. The investor and the film production company sign a framework agreement. The investor receives a tax certificate.
This makes it possible to calculate the minimum European expenditure to be made. The investor has 3 months to pay the amount. The producer has 18 months to cover the expenses. The production can be launched, and the expenses made up to 6 months before the date of obtaining the approval. Fundraising from the Tax Shelter cell is paid after each cost report. Therefore, to receive the money from the Tax Shelter, you must first make expenses.
The money is paid in the current month after sending the cost report to the account of the Belgian company applying for shelter. Production expenses can be incurred up to 6 months before the signing of the agreement and up to 18 months after the signing. Before these 6 months and after 18 from the signing of the framework agreement, the expenses are no longer valid. As per our production assistant in Belgium, this means that production can be launched 6 months beforehand while waiting for the framework agreement. And that the production must be closed, and the film finished at most 18 months after the signing. This includes distribution costs, communication, and other project closure activities.
Team up with a film production company in Belgium
Working with our local film production company in Belgium can provide several benefits when it comes to benefiting from the tax shelter system. Firstly, at Storytailors France Benelux, we have a solid understanding of the eligibility criteria for the tax shelter and can ensure that the production meets the requirements.
We also have established relationships with local talent and suppliers, which can help to keep production costs down and increase the likelihood of receiving government approval for the tax shelter. Additionally, as a local film production company in Belgium, we have experience with the cultural and linguistic nuances of the Belgian market, which can be important for ensuring that the production resonates with local authorities.
Ultimately, working with a local production company can help to maximize the potential tax benefits while ensuring a high-quality video production that meets local standards and resonates with your target audience.
Team up with a film production company in Belgium
Working with our local film production company in Belgium can provide several benefits when it comes to benefiting from the tax shelter system. Firstly, at Storytailors France Benelux, we have a solid understanding of the eligibility criteria for the tax shelter and can ensure that the production meets the requirements.
We also have established relationships with local talent and suppliers, which can help to keep production costs down and increase the likelihood of receiving government approval for the tax shelter. Additionally, as a local film production company in Belgium, we have experience with the cultural and linguistic nuances of the Belgian market, which can be important for ensuring that the production resonates with local authorities.
Ultimately, working with a local production company can help to maximize the potential tax benefits while ensuring a high-quality video production that meets local standards and resonates with your target audience.
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