Following consultation with business and parliamentary discussions the Belgian Council of Ministers has approved plans to modify the tax regime benefiting the film industry.
Production companies in Belgium are required under the current regime to cede some of their rights in return for finance for their audiovisual works. The new regulations will enable investors to benefit from an attractive tax break, but without acquiring production rights in return for their financial support.
Under the new system, the production company will be required to conclude a framework agreement with an investor, and will also need to request issuance of a certificate from the Finance Ministry. This certificate will confirm that the various legal requirements for the granting of the tax break have been met.
