KPMG Releases ‘Film Financing and Television Programming’

Michelle Remo, “Big 4″ observer
March 07, 2012 /

With the state of the global economy still in flux, film and television financing, an already complex area, is more difficult than ever for entertainment executives to navigate.

State and country governments, many of which are still recovering from the global economic crisis, are limiting tax incentives and credit programs that have often been used to attract production to a jurisdiction.

To help those in the entertainment industry better understand and manage these challenges, KPMG released its sixth edition of “Film Financing and Television Programming: A Taxation Guide,” which focuses on the trends, barriers and rules that will be the greatest drivers within the international film and television production community.

“Recent trends in tax laws and significant shifts in incentive and credit programs – critical factors in determining the success of a film or television project – have made it a much more challenging environment for decision makers in the industry who are seeking the most viable locations for production,” said Anthony Castellanos, Global Accounts Lead Partner and Industry Leader at KPMG.

“Many are turning to untraditional areas – like emerging markets – to find attractive new opportunities.”

He adds, “Although there can be benefits to moving locations internationally, there are also many tax implications associated with doing business in another country. It’s critical that entertainment executives – in addition to thinking about how they’re actually going to obtain financing for a project – also consider the potential tax consequences based on where they decide to produce or film.”

KPMG’s Film and Television Tax Guide highlights 35 key countries with a stake in the film and television production industry, providing a description of commonly used financing structures as well as the commercial and tax implications for conducting business within each location.

The countries referenced in the guide include: Australia, Austria, Belgium, Brazil, Canada, China and Hong Kong SAR, Colombia, Czech Republic, Fiji, France, Germany, Greece, Hungary, Iceland, India, Indonesia, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, The Netherlands, New Zealand, Norway, Philippines, Poland, Romania, Singapore, South Africa, South Korea, Sweden, Thailand, United Kingdom and United States.

 

1 Comment for “KPMG Releases ‘Film Financing and Television Programming’”

  1. mike hammersley

    Michael Hamersley
    From Wikipedia, the free encyclopedia

    Based on recent court filings, Hamersely apparently
    himself sold fraudulent tax shelters and threatened to
    kill Jane, the fiancé of one of Hamersley’s former co workers
    who apparently killed herself as a result off Hamersley’s threats
    and acts of intimidation.

    FACTS. Hamersley was an accountant at KPMG who
    knowingly promoted and implemented abusive tax shelters for his clients. When the IRS began
    investigating the tax shelter industry a decade ago, Hamersley decided to try and mask his own
    involvement with promoting abusive tax shelters by misdirecting governmental attention toward others.
    Hamersley was angry with David Greenberg because Greenberg had publicly voiced his opposition
    within KPMG to Hamersley being admitted to the KPMG partnership. Greenberg was thereafter targeted
    by Hamersley. As Hamersley’s motion demonstrates, he still holds considerable animosity toward
    Greenberg. But this case is not about Greenberg. This case is about the negligent and intentional acts
    Hamersley committed toward Jane Holtel, the mother of a child fathered by Greenberg. Attached as
    Exhibit A is a copy of Ms. Holtel’s suicide note, which sets forth some of the acts of defendants in this
    case, including actions by Hamersley. Hamersley and the other Defendants engaged in a systematic
    pattern of harassing and threatening Ms. Holtel, which proximately caused her suicide.

    KPMG Whistleblower

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