Movie and Media

Successful productions need a solid back-office

Munich has long been a location with renowned film and TV production companies and film-makers. Since our firm was founded, we have been able to gain a great deal of experience in the industry. From a contractual point of view, there are different roads that lead to different balance sheets in regards to film projects. The Accounting Law Modernization Act allows for the possibility to capitalise on custom-made intangible assets in trade balances. The transition from working on a production in an employment capacity to doing so as a freelancer is fluid, as is the contractual/artistic relationship.

How you benefit

Larger productions are often organized based on the division of labour. Film accounting, for example, is prepared on-site. The combination of project accounting into the overall accounting requires strong communication skills and experience in dealing with division of labour processes. Here, knowledge in the field of cross-border taxation of individuals and companies is just as vital as having strong English communication skills. The tax treatment of production companies, co-producers, participating actors, artists, and other service providers must be taken into account at the beginning of production in order to foster a smooth progression of a project.

Why LM?

In addition to helping to establish a permanent presence and to clarify the scope of tax rights (particularly in cross-border production to avoid withholding tax deductions and timely tax exemption requests), we can assist those responsible for producing a film as well as the accountants on-site – and ensure prompt reimbursement of foreign input tax. We can ensure the successful integration of the completed project accounting into the overall accounting scheme, and as an additional service we offer the preparation of tax returns for foreign artists who have been involved in domestic productions.

Clients

Our clients range from established film production companies to innovative start-ups. In regards individuals, we serve well-known players in the film and media sector.

Services for Companies

  • Establishment of companies and registration of permanent establishments
  • Application procedures for exemptions under double taxation agreements
  • Transfer of current payroll
  • Support/preparation for project bookkeeping and accounting for companies
  • Preparation of reports and annual financial statements
  • Supervision of auditors
  • Implementation of the current tax declarations
  • Monitoring of tax audits
  • Data processing and preparation of investor presentations
  • Financial due diligence/quick reviews for the acquisition of film companies
  • Support for restructuring

Services for Individuals

  • Tax returns for limited liability taxpayers
  • Applications for exemptions under double taxation treaties for foreign filmmakers and artists
  • Tax planning in relation to the practice of artistic activities

Contacts

Michael Müller | to profile | direct contact