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Sofica Income Tax Reduction - Movie or Audiovisual Subscription

Verified 08 avril 2021 - Legal and Administrative Information Directorate (Prime Minister)

If you are a resident of France, you get a tax reduction by investing in a business for financing cinematographic or audiovisual works (Sofica).

You benefit from the tax reduction by investing in the capital of a business for financing cinematographic or audiovisual works (Sofica) approved by the Minister of Economy and Finance.

  Please note : the scheme shall be extended until 31 December 2023.

Enter on your return the investments you made.

Keep the documents submitted by the Sofica (statements submitted by the Sofica, approval decision). Tax services can claim them from you.

Also keep the securities acquired until December 31 of the 5e year following the year of payment of the subscription. Failure to do so may result in a tax reduction.

Online Declaration

Internet reporting is mandatory if your main residence is equipped with internet access and you are able to make your declaration online.

2021 Online 2020 Income Statement

Ministry of Finance

Before validating your pre-completed return online, you must verify the information provided and, if necessary, correct and complete it. Keep supporting documents for 3 years if requested by the administration.

Paper Declaration

In 2021, you can report your income on paper if you are in one of the following situations:

  • Your main residence is not equipped with internet access
  • It is equipped with internet access, but you are not able to make your declaration online

You will use the pre-completed paper return received between April and June 2021. Depending on your situation, this is the return No 2042 or 2042 C. Declaration #2042 RICI groups major tax credits and reductions.

If you do not receive a print (1st declarationchange of address, change in family situation), you can report online or download the necessary declarations from early May on service-public.fr or www.impots.gouv.fr.

Certain income is to be reported on a separate return. You can also download them online. The main annexed declarations are:

Before signing your return, you must verify the information provided and, if necessary, correct and complete it.

You do not have to attach supporting documents to your paper return unless they are documents prepared by you (such as a detailed list of your actual expenses). However, keep the documents for 3 years if requested by the administration.

Withholding subscription limit

Your investment is limited to 25% your total net income, with a maximum of €18 000 per year.

Maximum reduction

The tax reduction is 30% investments made in 2020.

It is therefore €5,400 (30% x €18 000).

Increased rate of reduction

  • If Sofica commits to at least 10% of its investments before 31 December of the year following the subscription, the rate shall be increased to 36%
  • If Sofica commits itself to 10% of its investments to finance works of fiction, documentaries and animation in the form of series (or to buy the rights relating exclusively to the revenues of exploitation of cinematographic or audiovisual works at the foreigner), the rate is 48%.

These investments and expenses must be made within one year of the creation of the business.

The maximum reduction is therefore €8,640 (48% x €18 000).