Belgium is to become the latest European country attempting to use tax as a way of boosting film production.
Didier Reynders, the Belgian finance minister is expected today (Friday May 24) to announce the launch of a new tax shelter.
The new measures are expected to allow film investors to set off Euros 750,000 of corporation tax, provided that their total tax liability exceeds Euros 1.5m.
The tax relief is available at 150% of initial investments, meaning that a Euros 500,000 investment would trigger the maximum tax relief.
Two key conditions are attached to the relief: a sum equivalent to 150% of the amount provided under the scheme must be spent in Belgium; and, the amount provided tax free must not exceed more than 50% of the total budget.