First of all: thank you to everyone who’s staying inside, working from home and doing everything in his/her power to stop this virus from spreading any further. Thank you!
These are trying times. We recently updated our blog post on specific support measures in case the outbreak and subsequent quarantine measures are damaging your operation.
While these temporary support measures are available to bail you out in times of crisis, don’t forget there’s also structural tax incentives in place for the Belgian Games Industry. These can help you free up more funds for development that can be used as a safety cushion when needed. The tax lawyers over at Mythra have written a series of blog posts explaining everything in great detail.
- Transfer of copyright: this blog explains how a part of your professional income can get taxed at a lower rate using copyrights
- Wage withholding tax exemption: this blog focuses on the wage withholding tax exemption for Research & Development, which is aimed at lowering your salary cost as an employer
- Innovation Income Deduction: this blog explains a quite complex tax incentive that can severely reduce your corporate income tax burden
- Securing seed capital: from a general taxshelter for start-ups to a win-win loan, this blog explores five ways to secure seed capital
- Management incentives: this blog offers some options to make sure key people that aren’t (co)-founders don’t run off to another studio
We hope you can use this information to make the best of a tough situation. If this doesn’t turn out to be enough, please let us know if the production of your game is suffering a delay or your company is in turmoil. Thank you and stay safe, everyone!