Major improvements to tax credit for foreign film production services



    MONTREAL, June 12 /CNW Telbec/ - The Quebec Film and Television Council
(QFTC) is extremely pleased with the Quebec government's important
announcement today, regarding the change in tax credits for foreign film
production services. The 25% rate, applicable to labour costs, has now been
extended to include all eligible expenses. An additional 5% enhancement for
special effects, digital animation and green-screen shooting brings the
effective rate for any eligible production to 30%.
    The QFTC extends a special thanks to Raymond Bachand, Minister of
Finance, and Christine St-Pierre, Minister of Culture, Communications and the
Status of Women, for their quick involvement in this important tax credit
issue. The concrete action they have taken, at a time of intensified
international competition, is certain to impact positively on efforts to
promote Quebec's assets to American producers.
    This decision, which bespeaks a strong commitment to Quebec's film and
television industry, is also evidence of the dynamic, open relationship the
industry has forged with government, and of solid support for the QFTC's
mission: to develop Quebec's competitiveness as a world-class film production
centre. Film Commissioner Hans Fraikin is pleased with the Quebec government's
response to requests for changes in the foreign film production services tax
credits, which can now be applied to all eligible expenses, while maintaining
the enhancement for special effects. "The entire industry will benefit
considerably - in both the short and long term - from these measures. Quebec
has returned to the foreground, with tax breaks that are more than typically
competitive."

    About the QFTC:

    The Quebec Film and Television Council's mission is to contribute to
Quebec's development and competitiveness as a world-class film and television
production centre. The QFTC is responsible for promoting Quebec's assets in
foreign markets, in order to attract interesting business opportunities for
all of Quebec. Working with regional film and television offices, it ensures
consistency and proper coordination of the welcome and support services
required for filming international productions in Quebec. The QFTC's mandate
includes the development and completion of anchor projects that will benefit
the entire industry, while also taking on an information dissemination and
awareness-building role with public- and private-sector decision-makers and
the general public.




For further information:

For further information: Hans Fraikin, Commissioner, (514) 772-2601;
Sylvain Gagné, Deputy Commissioner, Quebec Film and Television Council, (514)
499-7070, extension 223

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QUEBEC FILM AND TELEVISION COUNCIL (QFTC)

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