On May 2, 2016 the government of British Columbia announced significant changes to the province's film, television and digital media tax credit programs. While the changes remain to be approved by the provincial legislature, they will involve the following:
- the Basic Production Services tax credit (PTSC) will drop from 33% to 28% of eligible expenditures
- the Digital Animation or Visual Effects tax credit (DAVE) will drop from 17.5% to 16% of eligible expenditures
Note that the Film Incentive British Columbia tax credit (the "Canadian content" credit) will not be altered by the changes.
The changes will become effective on September 30, 2016, thereby allowing a significant transition period.
For a full run-down of the specifics of the announced changes, see this detailed Dentons client alert.
About Dentons
Dentons is the world's first polycentric global law firm. A top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm is committed to challenging the status quo in delivering consistent and uncompromising quality and value in new and inventive ways. Driven to provide clients a competitive edge, and connected to the communities where its clients want to do business, Dentons knows that understanding local cultures is crucial to successfully completing a deal, resolving a dispute or solving a business challenge. Now the world's largest law firm, Dentons' global team builds agile, tailored solutions to meet the local, national and global needs of private and public clients of any size in more than 125 locations serving 50-plus countries. www.dentons.com
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Specific Questions relating to this article should be addressed directly to the author.
