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France Issues New Tax Credit for Gaming Companies

Written by: Bridgewest

France-Issues-New-Tax-Credit-for-Gaming-CompaniesA while back France announced the extension of the tax credit scheme for video games in order to loosen up the eligibility criteria for gaming companies. The new tax credit scheme has decreased the minimum investment threshold and allows French companies to deduct certain costs related to employees. The new French tax credit scheme applies to small and medium companies operating in the video gaming industry.

The new tax credit scheme for developers in France

The French Government announced the relaxation of the conditions on applying for the cultural tax breaks for game developers, by introducing three new important changes. The first change refers to French companies producing games for adult audience which are now allowed to apply for the tax credit compared to the previous stage of the program when they were disqualified.

Another important change refers to the minimum amount a company must invest in the developing process; it has been lowered by a third, from 150,000 euros to 100,000 euros and thus enabling smaller French companies to apply. The third change refers to the employment costs which will now be considered a part of the project, costs that will be deductible when applying for the tax credit scheme.

The French gaming community and the National Syndicate of the Video Game have commended the initiative and declared the new measure would help French gaming companies to provide better products.

You can obtain more information about the eligibility criteria for the new video game tax credit from our lawyers in France.

The gaming industry in France          

Even if well-developed, the French gaming industry will attract more developers now that the new video game tax credit will also apply to developers using new platforms to create games.

The gaming industry will expand as an increased number of projects will be eligible for the French tax credit. It will also transform the actual gaming sector into a more dynamic and competitive one, but its effects will also extend to the labor market. The new tax credit will enable French workers to improve their skills and benefit from better conditions at the workplace.

The new tax credit is expected to take France among the best countries in the international games industry.

 

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