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FRS - Tax Credit for Artistic Professions FRS - Tax Credit for Artistic Professions

Tax Credit for Artistic Professions

In order to encourage excellent artistic craftsmanship and to safeguard traditional know-how, this tax credit allows financial support for the innovative capacities of Art companies and industries. It offsets the costs for certain expenses incurred, namely salaries, in order to develop and defend its expertise. This measure is applicable until December 31, 2016.

Description

The Tax Credit for Artistic Professions (CIMA) is based on eligible expenses made by the company during the calendar year, minus aid and public subventions having eventually served to finance these investments. Its amount is equal to:

  • 10 % of costs incurred during the course of the year
  • 15 % for companies which have the label « entreprises du patrimoine vivant » (Living Heritage Companies) which distinguish companies having excellent craftsmanship and industrial expertise

The tax credit has a threshold of EUR 30 000 per company and per year. Every company having a business, industrial or agricultural activity, whether subject to Corporate or Income tax in the BIC categories (Bénéfices Industriels et Commerciaux/Commercial and Industrial Profits) is eligible.

Which companies are concerned ?

The companies who can benefit from this tax credit must meet one of the following conditions:

  • Have personnel costs which represent at least 30% of total payroll for employees exercising an artistic profession
  • Be part of the watch/clock, jewellry, goldsmith, eyewear, table decor, toy, instrument or furniture sectors.
  • Have the label "Entreprise du patrimoine vivant" (EPV)/Living Heritage Company, an official label which recognises companies that have an artistic or industrial, rare, renown or ancestral expertise which relies on the mastery of traditional or highly sophisticated techniques

Eligible expenses

  • Salaries and social charges for employees assigned specifically to the creation of a unique or small series of artistic work
  • Depreciation charges for assets dedicated solely to the conception of new products and the development of prototypes
  • Filing fees for designs and models for new products
  • Defense costs for designs and models up to a maximum of EUR 60 000 per year
  • Costs associated with the development of new collections which are entrusted to stylists or external stylist offices

The 2013 Financial Law introduced the possibility to request an opinion prior to submission (rescript) 6 months prior to the filing of the special declaration (declaration CIR 2069-A). This condition represents a big step in securing CIR (Research Tax Credit) by means of rescript. Before, rescript wasn’t recognised unless the request was made before the beginning of the undertaking, which represented an important obstacle to its use.

As of today, it is possible to request the administration’s opinion even if work has already begun, and up to 6 months before filing the declaration (October 15 for a company which closes its accounts on December 31st).

If the project begins in January, the company has 10 months to develop it and to decide if the progress made and its scientific complexity would allow R&D classification. This measure also gives a better vision of the project such that it can be presented as precisely as possible to the administration for its opinion which would be considered effective in case of a control.

Read 4763 times Last modified on 02 July 2017

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