B.C. cuts film tax credit 5 per cent after consulting with industry
VICTORIA — British Columbia’s finance minister has yelled cut on film and TV industry tax credits.
Mike de Jong said Monday the province’s film tax credit rate will be chopped by five per cent to 28 per cent and could save the province up to $100 million annually.
He said the subsidy was forecast to cost the government almost $500 million this year, up from the average of $313 million over the past three years, and the strong American dollar has made the province even more attractive to the industry.