In 2002, Belgium introduced a tax concession for investments in Belgian audio-visual work. This tax shelter has just been made more attractive by a law of May 17 2004.
The tax shelter offers a 150% income tax exemption for investments in the production of Belgian film and documentaries. The provisions of the new article 194ter of the Income Tax Code came into effect in the 2004 tax year, but they failed to convince investors. To reassure potential investors that they would not lose their entitlement to the tax exemption all too easily, eight members of Parliament introduced a draft bill adapting the legislation. This article is a description of the concession. (Read the article …)