Because BC – and specially Vancouver – is the scenario for several filming productions, the province developed FIBC (Film Incentive BC), with the purpose to promote film, television, digital animation and visual effects production in British Columbia.
The incentive is given by refundable tax credits; they are five: basic FIBC tax credit (33%), regional tax credit (12.5%), distant regional tax credit (6%), training tax credit (30%) and digital animation, visual effects and post-production (DAVE) tax credit (17.5%).
But… Is my company eligible?
To be eligible do get Film Incentive BC, your company must be BC based, Canadian-controlled and related to film, television and/or animation production. Also, it must have incurred qualifying BC labor expenses while making an eligible production.
The minimum conditions are: 1. the producer must be a BC based individual and Canadian; 2. the production must have qualifying levels of Canadian content and 3. the production corporation must own more than 50% of the copyright in the production.
There are more conditions to be considered. To read more about it, click here.
Did not pass the minimum conditions? Try PSTC!
Like the FICB, the Production Services Tax Credit (PSTC) is a labor-based credit designed to promote production in BC. But, differently from the first one, PSTC doesn’t require Canadian content and is available to international and domestic production companies who are working in BC.
Dealing with taxes – may it be for personal purpose, small business or filming production – can be very overwhelming. Now that you know the basics, come and visit us to get your project done with specialists who will not waste your time or money. You can find us here or visit us on 505-1055 West Broadway, Vancouver, BC.
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