Belgium Launches Tax Shelter For Games
Game developers can now cover up to 33.7% gross of an eligible production budget.
Baldur's Gate III
Belgium's tax incentive for the games industry has been approved by the European Commission. Previously, the program welcomed the AV industry in 2003 and performing arts in 2017, and now the initiative will also help game developers.
The main goal is to support game development in Belgium – the program is open to Belgian productions, plus co-productions meeting the qualifying criteria.
As for the benefits, the initiative will let creators finance up to 33,7% gross (27.2 % net) of the "eligible production budget of the total qualifying expenses in the EEA."
What is more, investors can also rely on the program based on the amount of qualifying investment costs that the game's production will spend in Europe, plus the direct and indirect amount of Belgian-eligible expenses.
"Through the system, the investor pre-finances the production and/or post-production costs in return for tax benefits and a possible fixed return on investment," the press release states.
"All three parties benefit from this arrangement: the producer is offered a very attractive way to finance projects; the investor obtains tax exemption through a virtually risk-free investment; and the Belgian state gains from increased economic activity and spending," said Jean Greban, coordinator of regional Wallonia Gaming Association WALGA.
Don't forget to join our 80 Level Talent platform and our Telegram channel, follow us on Threads, Instagram, Twitter, and LinkedIn, where we share breakdowns, the latest news, awesome artworks, and more.
