Important tax credit increase for foreign film productions in Quebec!

Important tax credit increase for foreign film productions in Quebec!

MONTREAL, Dec. 21 /PRNewswire/ -- The Quebec Film and Television Council (QFTC) is delighted to announce that the Government of Quebec has increased the tax credit for foreign film production services from 20% to 25% and has also withdrawn the proportionality rule for green screen shooting expenses.

These new measures to Quebec's already generous financial incentives give fresh meaning to the region's reputation as one of the most production-friendly locations in the world. Having welcomed many film shoots this past year, including the record-breaking blockbuster 300, internationally acclaimed I'm not There and other impressive movies in the making such as The Mummy: Tomb of the Dragon Emperor, Afterwards, etc., the Quebec government has chosen to further secure foreign film shoots by making sure film producers will benefit from filming in Quebec.

Already boasting superior CGI facilities and a strong digital animation infrastructure, the withdrawal of the pro-rata rule binding green screen and visual effects Tax Credit bonuses will certainly have a positive effect on Quebec's worldwide acclaimed VFX industry. "These increased tax credit, combined with Quebec's European cultural and architectural background, unique locations, solid crews and state-of-the-art studio facilities, will continue to keep our film industry competitive on the international stage", said Hans Fraikin, Commissioner. "With the rates in effect as of today, this is excellent news for 2008".

Finally, these enhanced incentives reflect Quebec's ability to adapt and continuously meet the requirements of any production.

About the QFTC:

The mission of the Quebec Film and Television Council (QFTC) is to contribute to Quebec's development and competitiveness as a world-class film and production centre. The QFTC is responsible for the promotion of Quebec's advantages on foreign markets to attract interesting business opportunities for Quebec as a whole. In collaboration with the regional film and television commissions, it harmonizes and coordinates the welcoming and support services necessary for international productions in Quebec. The QFTC also has the mandate to develop and carry out structuring projects that benefit the entire industry, while informing and raising the awareness of public and private decision-makers and the general public.

Source: Quebec Film and Television Council

CONTACT: Melanie Dumas, Communications Officer, Quebec Film and
Television Council, (514) 499-7070, extension 225

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