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Important message for FIBC and PSTC applicants: Tax Credit Rate Increase in 2025

Dec 13, 2024

On December 12, 2024, the Ministry of Finance and Ministry of Tourism, Arts, Culture and Sport announced the following updates, subject to approval of budget legislation:

For FIBC applicants:

  • The basic tax credit will increase from 35% to 36% for productions that start principal photography on or after January 1, 2025; and
  • The Province intends to restore the regional and distant location tax credits for animated productions with a bricks-and-mortar presence in a regional or distant location

For PSTC applicants:

  • The production services tax credit will increase from 28% to 36% for productions that start principal photography on or after January 1, 2025
  • A new credit of 2% for major B.C. productions that:
    • Have B.C. production costs greater than $200 million and
    • Start principal photography on or after January 1, 2025
  • The Province intends to restore the regional and distant location tax credits for animated productions with a bricks-and-mortar presence in a regional or distant location

See the news release issued by the Province of BC for more information.

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