- Refundable tax credit
- Focused on supporting BC’s film, animation and visual effects industry
- Accepts applications each taxation year
The Film Incentive BC (FIBC) is a refundable tax credit designed to encourage film, television, digital animation and visual effects production in British Columbia. FIBC is for domestic productions that are Canadian owned and have qualifying levels of Canadian content.
The FIBC tax credit provides eligible production corporations with a tax credit on six initiatives: Basic (35%), Regional (12.5%), Distant Location Regional (6%), Training (30%), Digital Animation, Visual Effects and Post-Production (DAVE) (16%), and Scriptwriting (35%). Regional, Distant Location Regional, Training, DAVE and Scriptwriting must be accessed in conjunction with the Basic tax credit.
Companies can receive a refundable corporate income tax credit for labour expenditures paid to BC-based individuals.
The following conditions must be met in order to qualify for the FIBC:
- The production corporation claiming the credit must be a BC-based Canadian-controlled corporation
- The producer of a production must be a BC-based individual who is Canadian
- The production must be Canadian content
- The production corporation must own more than 50% of the copyright on the production
- At least 75% of the principal photography days of the production must be done in BC
- At least 75% of the cost of post-production work for the production must be carried out in BC
- The production must be completed within 24 months of the end of the taxation year in which principal photography began
- There must be a written agreement with a Canadian broadcaster to show the production in Canada within 24 months of completion
- The production company must receive a completion certificate within 30 from the end of the taxation year in which principal photography or key animation began.
FIBC is an ongoing program which accepts applications for each taxation year.