Investments

Tax Shelter

Support the audiovisual sector

​​​​Would you like to invest your money and receive a conditional and provisional 356% or 421% tax exemption in the fiscal period of the subscription of the Tax Shelter Certificate? Tax Shelter makes it happen!

  • Support the audio-visual arts in Belgium

    Tax Shelter is a Belgian tax incentive to boost the funding of audiovisual, film and stage art productions. By investing in Tax Shelter, resident companies or Belgian establishments of non-resident companies can benefit from a conditional and provisional tax break. 

  • Less tax

    Enjoy a conditional and provisional tax exemption of 356% or 421% of the amount invested in the fiscal period of the subscription of the Tax Shelter Certificate.  

  • An extra premium

    Earn an extra brut premium paid at most 18 months after the investment. The rate of the premium is the average of the EURIBOR rate 12 months prior to the quarter of the payment increased by 450 basis points. 

  • Risks

    The main risks are the risk of default, the counterparty risk, the tax risk and the return risk.

    Read carefully before investing the Prospectus (in French; Dutch version here) before subscription on www.taxshelter.be.

    The risks are described in the Prospectus on pages 18 to 21.

The risks linked to a tax shelter operation are detailed in the Prospectus (in French; Dutch version here) (pages 18 to 21). The offer is only valid to legal entities subject to article 194ter du CIR 1992. If the tax rate is different than 29.58% , the gain can be different or even negative (maximal possible loss of 11.08 %). The return depends on the date and the duration of the investment. The term of payment to investors of the interest premiums varies from 3 to 18 months, depending on the requirements to fund the relevant film or audiovisual project.

  • Shelter Prod or taxshelter.be goes bankrupt and you lose your investment and any associated benefits. Shelter Prod, however, is insured against this risk. This insurance is described in the Prospectus (in French; Dutch version here) (pages 22).     
  • taxshelter.be and/or Shelter Prod are no longer recognised by the FPS Finance and you lose your investment and the associated benefits.
  • Shelter Prod does not receive its tax certificate, which leaves you without temporary or final tax exemption. Once again, Shelter Prod nevertheless has taken out specific insurance to cover this eventuality. In addition, our partners closely monitor all audits needed to obtain the tax certificate. 
  • The premium may be lower if it is already paid after 3 months. The pay-out of the premium depends on the funding needs of the cinematographic or audio-visual work. under normal circumstances, all projects should be completed within 3 to 18 months.

Please read the Prospectus (in French; Dutch version here) for full details of the possible risks

You are a Belgian company or a Belgian branch of a foreign company subject to company tax in Belgium. If the legal entity in question benefits from a different tax rate, particularly the 20% tax rate applicable to small firms for the first slice of 100,000 euro taxable base, the return for the investor will be negative (-11.08 %). Please consult your tax specialist in this case.

ING1 cooperates with 2 specialised companies, taxshelter.be and Shelter Prod. As a distributor, we offer you the opportunity to invest in the taxshelter.be investment. Read more in the Prospectus (in French; Dutch version here). Offer of public subscription relative to investments in the production of cinema et / or performance art under “Tax Shelter” for a maximum amount of 25,000,000 euros. Offer valid from May 26th 2020 to May 25th 2021.

taxshelter.be2 is a Belgian intermediary that manages the administrative and operational side of your contract and investment. You can follow everything online.

Shelter Prod3 is a Belgian production company that manages the financial side, including your tax certificate and all audits required in order to receive your tax incentive.

Your company signs a framework agreement with taxshelter.be and Shelter Prod to invest in a film, documentary or other production. For the companies having a fiscal year ending before December 30th 2020, the maximal amount to invest is 477,000 euros. The tax exemption is limited to 50% of taxable profits per taxable period up to a maximum of 1,700,000 euros. For the companies having a fiscal year ending between December 31th 2020 and December 31th 2021, the maximal amount to invest is 475,000 euros. The tax exemption is limited to 50% of taxable profits per taxable period up to a maximum of 2,000,000 euros.

Shelter Prod monitors your investment and ensures that the money is spent within a period of 18 months (or 24 for animated films). All funds must be allocated in accordance with the law and the provisions of the framework agreement. Shelter Prod also ensures that the FPS Finance audits and approves all expenses.

The FPS Finance issues a Tax Shelter certificate to Shelter Prod if all the conditions are fulfilled of article 194 ter CIR 1992. Shelter Prod sends the certificate to your company. From that point on, your tax exemption is permanent.

Your benefits as an investor:

  • a temporary tax exemption of 356% or 421% of the amount invested. This represents a tax reduction of 105.30% or 105.25% of the amounted invested (based on a normal rate of corporate tax of 29.58%), or the total investment and a gain of 5.3% or 5.25%. This temporary exoneration is limited to 172% of the estimated tax amount of the Tax Shelter certificate. The definitive tax exemption is related to the value of the Tax Shelter Certificate effectively delivered by the FPS Finance department. Please note that the Audiovisual and Performing Arts Tax Shelter ceilings cannot be combined.
  • an extra brut premium (EURIBOR rate 12 months prior to the quarter of the payment increased by 450 basis points). Company tax will apply to the premium.


For the companies having a fiscal year ending before December 30th 2020, the maximal amount to invest is 477,000 euros. The tax exemption is limited to 50% of taxable profits per taxable period up to a maximum of 1,700,000 euros. For the companies having a fiscal year ending between December 31th 2020 and December 31th 2021, the maximal amount to invest is 475,000 euros. The tax exemption is limited to 50% of taxable profits per taxable period up to a maximum of 2,000,000 euros.

Tax Shelter is an investment under Belgian law that allows your company to support audio-visual and cinematographic productions.

  • Minimum amount of 1,000 euros. For the companies having a fiscal year ending before December 30th 2020, the maximal amount to invest is 477,000 euros. The tax exemption is limited to 50% of taxable profits per taxable period up to a maximum of 1,700,000 euros. For the companies having a fiscal year ending between December 31th 2020 and December 31th 2021, the maximal amount to invest is 475,000 euros. The tax exemption is limited to 50% of taxable profits per taxable period up to a maximum of 2,000,000 euros.
  • Tax advantage of 356% or 421% in the fiscal period of the subscription of the Tax Shelter Certificate. 
  • Extra premium for the deposited amount, calculated over a period of 3 to 18 months (depending on when the Tax Shelter certificate is delivered by Shelter Prod) (EURIBOR 12 months + 4.50%).
  • Insurance against a potential loss of the tax advantage, but not the premium. This insurance is described in the Prospectus (in French; Dutch version here) (page 18).
  • Final tax certificate after a maximum of 4 years, delivered by FPS Finance department to Shelter Prod.
  • The investment is not transferable.
  • No fees, but company tax will apply to the premium.

Contact ING Complaint Management, Cours Saint-Michel 60, 1040 Brussels. Call +32 2 547 61 02 or send an e-mail to complaints@ing.be

Been in contact with ING? You can contact Tax Shelter, Rue de Genève 175, 1140 Evere. Call +32 2 770 21 33 or send an e-mail to info@taxshelter.be.

1 Distributor: ING Belgium SA/nv – Bank – Avenue Marnix 24, 1000 Brussels – Brussels Register of Companies – VAT: BE 0403.200.393 – BIC: BBRUBEBB – IBAN: BE45 3109 1560 2789

2 Intermediary: taxshelter.be, a public limited company under Belgian law with registered office at Rue de Mulhouse 36, B-4020 Liège, recognised as such by the FPS Finance on 28 January 2015

3 Intermediary: Shelter Prod, a public limited company under Belgian law with registered office at Rue de Genève 175, 1140 Brussels, recognised as such by the FPS Finance on 13 February 2015​