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Brussels Grants Go Ahead To Tax Credit For Foreign Films Produced In France

by Ulrika Lomas, Tax-News.com, Brussels

08 July 2009

The European Commission has given the green light to a new French initiative to grant tax credits to foreign films produced in France.

Defended by the French government, the new tax initiative is designed to entice foreign film-producers to film in France, in a bid both to support the French film industry, and to promote the image of France and French culture across the world.

Under the terms of the initiative, international producers of both foreign films and televised series will benefit from a 20% tax credit on expenses incurred in France – up to a limit of EUR4m, provided that their work has a link to either French or European culture.

Various well-known film-makers and producers have already expressed their eagerness to work in France, including Woody Allen.

Adopted by the French Parliament in December of last year, the tax incentive forms part of the 2009 Finance Law.

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