France Receives E.U. Approval to Increase Tax Incentives for Foreign Films

July 9, 2013 | By Myriam Laville
Despicable Me 2 byt the French studio : Illumination Mac Guff

Last Wednesday, the European Commission approved a plan to significantly increase tax incentives for foreign films made in France. Originally passed by the French Parliament last December, the new rules would allow filmmakers to claim up to 10 million euros in tax rebates, up from a previous maximum of 4 million. It is an expansion of an already existing program called TRIP (Tax Rebate for International Production) that gives foreign studios working in France tax benefits as long as their films include some elements related to French heritage or culture. The higher cap is particularly beneficial to big budget foreign films. In recent years, major Hollywood productions like Despicable Me 1 & 2, Inception and Thor have filmed in France, this new change is likely to entice even more producers to shoot in the country.  

The TRIP (Tax rebate for international production) supports foreign companies whose projects are completely or partly made in France. To be eligible, projects must include elements related to French culture, heritage, or territory. Eligibility is based on a Cultural Test, which assesses the relativity of the story, locations, characters, sources, landmarks, creators, crew and technical hubs.

More information on The TRIP:

www.FilmFrance.net

www.idf-film.com

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