FIBC Tax Credits: Canadian-Controlled Corporation

Film Incentive BC (FIBC) is an economic initiative designed to encourage film, television, digital animation and visual effects production in British Columbia. Eligible applicants are film, television and animation production corporations with a permanent establishment in BC that are owned and controlled by Canadians and have incurred qualifying BC labour expenses.

For privately held companies, over 50% of the voting shares need to be held by Canadians. We do a look-through to the individual shareholders of the production corporation and any parent corporations (including parent corporations of parent corporations!). To do this, we need the Schedule B: Certificate of an Officer, Corporate Share Register and Certificate of Incorporation for the production corporation and all parent corporations.

• • See the Investment Canada Act definition of “Canadian”

For publicly-held corporations, 2/3 of board of directors must be Canadian. For these corporations, please use our Public Corporation Affidavit.

• • See the Income Tax Act regulations definition of “Canadian-controlled”

Creative BC: FIBC Application Checklists

Refer to section B “Eligible Production Corporation” in the application checklists below to ensure that you are providing the initially required support documents that confirm the production company is Canadian-controlled. During the analyst review of your application, you may be asked to provide further information for permanent residence.

• • Creative BC FIBC Eligibility Checklist
  • Creative BC FIBC Completion Checklist

More information and resources for FIBC tax credits are available at www.creativebc.com/fibc.

Lea Chambers
Senior Business Analyst, Motion Picture Tax Credits
lchambers(at)creativebc.com

This post is intended as a general overview. It is not exhaustive and should not be relied upon to determine eligibility or the final amount of an anticipated tax credit. In case of any discrepancies between this post and the Income Tax Act (BC) and Regulations (the “Act”), the provisions of the Act prevail.