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France Boosts Film Tax Credit to Lure Hollywood Shoots
8 Feb
Summary
- France expands tax rebate to include below-the-line costs.
- Incentive now covers non-European actors' salaries and hotels.
- Rebate aims to reclaim competitiveness and attract large projects.
France is set to enhance its competitive edge in attracting international film and television productions with a significant reform to its tax incentive program. The updated rebate, pending European Commission approval, will now encompass below-the-line costs, including salaries for non-European actors and accommodation expenses. This strategic move, with a cap of €30 million ($35 million) per project, aims to regain France's standing as a premier shooting destination.
The reform includes a 30% tax rebate on eligible expenses, increasing to 40% for projects with over €2 million ($2.3 million) in French visual effects work. This expansion is crucial for addressing a recent decline in TRIP-approved productions, which dropped to 55 in 2024 from 100 in 2022. Industry leaders, including Netflix co-CEO Ted Sarandos and Paramount Skydance CEO David Ellison, played a key role in advocating for these changes to President Emmanuel Macron.
France has already seen a surge in large-scale productions over the past decade, doubling annual spending from €1.5 billion to €3 billion. High-profile series like "Emily in Paris" have showcased the capabilities of French crews. However, the global market's current turbulence and intensifying competition necessitate this modernized incentive to ensure continued growth and economic benefits from the film sector.
