Belgium looking to adjust film industry tax breaks

Belgian cinema’s “Tax Shelter” is undergoing a review to ensure rules are not abused in the future. Belgium’s Finance Minister Koen Geens says that he intends on making adjustments to the film industry’s beneficial tax structure that will continue aiding in the production of movies, but he wants to ensure that funds are put to best use.

The current tax breaks have helped country’s film industry grow over the past few years. Although despite the positives of the tax incentives, industry insiders themselves admit that money raised within the current system could be better utilised.

The Finance Minister announcement came after working closely with the industry to gauge the impacts of the tax breaks, including representatives from the Flemish film industry. Soon, he will begin talks with representatives from the Francophone film sector.

The minister would like to see the majority of funds gained from tax-breaks actually aiding in the production of films, rather than helping fill the pockets of cinema investors. The upcoming changes will target both Flemish and Francophone productions, as well as international co-productions.