MONTRÉAL, March 26, 2015 /CNW Telbec/ - The Québec Film and Television Council (QFTC) welcomes the decision to increase tax credits for Québec film and TV productions, film dubbing and sound recording, as well as for the production of multimedia events that take place outside of the province.
"Through such measurable actions, the Government of Québec is acknowledging the fact that increased financial resources were necessary for these areas of our film and TV industry to be able to compete in an environment where access to foreign content is made that much easier by new, rapidly expanding technologies." said QFTC General Manager Pierre Moreau.
The Council is also quite pleased to see that the Government has clearly disregarded the Godbout Report's recommendation that the reimbursement of tax incentives for larger businesses be abolished – a wise and lucid decision indeed.
As for the service tax incentives remaining unchanged, the Council believes that the Government of Québec is sending an important message about stability. And yet, we feel compelled to qualify said Government's statement that, despite the June 2014 cuts, Québec remains competitive. It is important to point out that, in terms of competitive tax incentives, the province's position has dropped a few notches since the cuts, especially when compared to neighbouring Ontario.
Overall, the budget is welcome news, as it establishes a framework favourable to the development and growth of the Québec audiovisual industry as a whole.
About the QFTC
The Québec Film and Television Council (QFTC) is a non-profit organization whose mission is to contribute to the development of Québec's competitiveness as a world-class film and television production centre.
As an economic development agency, its mission is also to generate new investments in Québec by relying on competitive tax incentive programs, the know-how of the industry's stakeholders, the diversity of our architecture, the quality of our infrastructures and our ability to export film and TV products abroad.
Lastly, the QFTC acts as a representative and strategic advisor to government bodies.
SOURCE Bureau du cinéma et de la télévision du Québec (BCTQ)
For further information: www.qftc.ca; Andrée Gendron, Communications Manager, Québec Film and Television Council, 514 499-7070, ext 230, [email protected]