Economy

Tax Rebate brings back Foreign Movies to France

Thanks to a new tax law, the number of foreign films shot in France in the first trimester already matches 2015’s results

May 24th, 2016
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A new law has been implemented in France since the first of January, this new initiative has meant that foreign films produced in France can benefit from a 30% tax rebate. The results of this initiative are already visible; already 19 foreign films have been shot in the country in 2016, this represents more than €100,000,000 in investment. 

This boom in film production comes as a direct result of the introduction of this tax rebate, which has been implemented by the Centre National du Cinéma (CNC) and is being reinforced by the government. This tax rebate is available to fictional or animated films and is available to foreign film companies. Since January the tax rebate is based on 30% of the films spending on national territory. There are however, a number of conditions; the produces must spend at least 1 million euros in France and the film must include some references to French culture or to the state itself. The tax rebate is available to 30 million euro.

This tax rebate initiative is regarded by the French government as an investment for France. Indeed, the advantages made as a result of the tax rebate bring more films and productions to France, subsequently bringing more capital to France. Frédérique Bredin, the president of the CNC, also explains that it means new jobs for the French people, especially in the field of animation and visual effects.

More film production in France also has other indirect advantages. Tourism will benefit from the films and their portrayal of France, as these films will be broadcasted throughout the world. For example there has been a large increase in Chinese visitors to France, since the success of the movie Chinese Zodiac which was directed by Jackie Chan.


 

References:

Cultural Diplomacy News
Gaspard Fontaine,, CD News