{"type":"document","data":{"id":"b98549b9-cec7-438b-b95d-a117e6aa5407","localeString":"en-GB","publishDate":"2025-08-25T10:20:14.239+02:00","contentType":"onecms:productPage","hasMacro":false,"flexPageMetadata":{"afmBanner":false,"robotInstruction":{"noIndex":false,"noFollow":false},"description":"Would you like to benefit from a conditional and provisional tax exemption on the invested amount? Tax Shelter makes it happen!"},"mainHeaderZone":{"componentType":"productHeader","cta":{"componentType":"cta","textLink":{"url":"https://www.ing.be/en/business/services/contact-us","text":"Contact us"}},"coreHeader":{"body":"​​​​Would you like to invest your money and receive a conditional and provisional 421% tax exemption in the fiscal period of the subscription of the Tax Shelter Certificate? Tax Shelter makes it happen!","headerImage":{"transformBaseUrl":"https://assets.ing.com/transform/99fb971b-296a-42a0-aa62-3fb7a16c87fd/tax-shelter-1920","type":"image","width":1920,"original":"https://assets.ing.com/m/30941270734499d5/original/tax-shelter-1920.jpg","extension":"jpg"},"title":"Tax Shelter","subtitle":"Support the audiovisual sector, the performing arts and gaming.","promoText":"Promotional communication"},"backLink":{"textLink":{"url":"/en/business/save-and-invest","text":"Save and invest"}}},"flexZone":{"flexComponents":[{"componentType":"paragraph","title":"WARNING","richBody":{"value":"<p>In 2015 ING entered into a partnership with the intermediary Tax.shelter.be to distribute its services. The risks linked to a Tax Shelter operation are described in detail in the Tax.shelter.be <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>) (pages 13 to 19).</p><p>The investment consists in an obligation to transfer a certain amount with the aim of obtaining a Tax Shelter Certificate linked to an eligible work of art which, under certain conditions, opens up entitlement to a tax exemption.</p><p>The attention of Investors is drawn in particular to the following points:</p><ul><li>This offer is intended exclusively for legal entities that are entitled to the corporate tax exemption scheme  granted under Articles 194ter, 194ter/1 and 194 ter/3 of the 1992 Belgian Income Tax Code (hereinafter the CIR 1992).</li><li>The proposed Investment is intended primarily for legal entities subject, in Belgium, to corporate income tax or to tax on non-residents (companies) at the normal corporate tax rate (at the rate of 25% applicable in 2025, the potential benefit is 12.83% in the 2nd semester 2025). If the legal person concerned is entitled to a different tax rate, namely the rate of 20% applicable to small enterprises for the first 100,000 euros tranche of the taxable base, the return to the Investor will be negative (-8.22%). The potential benefits also vary depending on the investment date and term. The potential benefit in question in this Prospectus is based on the assumption (i) of a payment made before the first of January 2026. It will have to be recalculated if the payment is made after that date, in accordance with the Euribor rate applicable thereafter; and (ii) an investment term of 18 months, with the benefit being lower if the term is less than 18 months.</li><li>The proposed investment involves certain risks, particularly the risk of not obtaining the tax benefit on behalf of the investor, <strong>with the main consequence being the total or partial loss of the amount invested, if the guarantee mechanisms were to prove ineffective</strong>. These risks are set out in the Taxshelter.be this <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>) (pages 13 to 19).</li><li>Circles Group&apos;s tax insurer has refused to confirm at the date of this prospectus the assumption of the claims following the non-issuance of certificates in respect of Night at the Opera and Best of Musicals, as described in section 2.1.1. Shelter Prod has appointed Circles Group on 27 March 2023 to have the Night at the Opera dispute settled by the courts. The procedure is underway. A similar writ may be issued against Best of Musicals. This materialises the risk of non-intervention by the insurer, as described in section 2.1.2. The risk of non-hedging relates to an amount of 1,849,244 euros in compensation for loss of tax evasion on Night at the Opera and Best of Musicals. Shelter Prod has decided, for commercial reasons, to advance these indemnities to the investors in these projects, thereby subrogating itself to their rights, pending the outcome of the discussions and procedures underway.</li><li>The relation between the collected Tax Shelter capital awaiting their attestation on May 6th 2024 and the equity capital of the Offer or on 31/12/2023 is 48.03. This means that the Offering party&apos;s equity cover 2.08% of the sums raised that have not yet been controlled by the Tax Shelter cell. This includes the total cost of all potential indemnities on Night at the Opera and Best of Musicals.</li><li><strong>The Investment consists in the payment of funds without repayment at maturity.</strong> The Investment is not an equity investment in the Offeror or in Shelter Prod but is an obligation to transfer a certain amount with the <strong>objective of obtaining a Tax Shelter Certificate</strong> linked to an eligible work that, under certain conditions, gives entitlement to a tax exemption. The Offeror undertakes, in consideration for the Investment, to pay a Premium and to fulfil its obligations as set out in the <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>) so that the investor can obtain the Tax Shelter Certificate and the associated tax benefit.</li><li>Subscriptions are made in tranches of 1,000 euros, with a minimum of 1,000 euros.  </li><li>By completing the Subscription Undertaking on the taxshelter.be website, Investors undertake to be bound to taxshelter.be and Shelter Prod in accordance with the terms of the Framework Agreement included in Appendix 3 of this Prospectus.</li><li>Public subscription offer relating to an investment in the production of one or more audiovisual works and/or one or more stage performance works and/or video games under the Tax Shelter regime for a maximum amount of 40,000,000 euros.  Offer valid from 11 June 2024 to 10 June 2025 inclusive.</li><li>The approval of the <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>) approved on 11 June 2024 must not be considered to be a favourable opinion on the investment instrument on offer. This approval does not include any assessment of the suitability and quality of the operation, nor of the circumstances of the entity carrying it out. The Taxshelter.be prospectus is available to Investors free of charge upon a standard request sent to the email address <a href=\"mailto:info@taxshelter.be\">info@taxshelter.be</a> and is available at the operational headquarters of taxshelter.be at Corner Building – 175 rue de Genève, 1140 Evere. </li></ul>"}},{"componentType":"sectionTitle","title":"Tax Shelter summarized"},{"componentType":"productFeatures","image":{"transformBaseUrl":"https://assets.ing.com/transform/3155dacb-4d0b-4466-bfa1-5526cf192adb/Coins","type":"image","width":160,"altTextNL":"Payments","original":"https://assets.ing.com/m/2a7bd7993c765426/original/Coins.svg","extension":"svg"},"highlighted":false,"items":[{"body":"The Tax Shelter is a tax incentive from the Belgian government intended to encourage financing of productions in the audiovisual, performing arts and gaming sectors (since 2023). By investing in the Tax Shelter, resident corporations or Belgian branches of corporations not residing in Belgium can benefit from a temporary and conditional tax advantage, on condition these companies are subject to corporate tax. Legal entities that benefit from a lower tax rate, since they have a taxable base less than 100,000 euros, are not concerned by this investment.","title":"Support the audiovisual sector, the performing arts and gaming in Belgium"},{"body":"Subject to effectively obtaining the tax certificate, the company can benefit from a tax exemption of 421% of the amount invested (1). This gives a tax savings of 105.25% of the amount invested (on the basis of a corporate tax rate of 25%), leading to a gain of 5.25% called the \"Fiscal yield\".","title":"The tax advantage"},{"body":"The company benefits from a Potential Financial Yield paid out at the latest 18 months after making the investment (i.e. Euribor rate + 450 basis points) (2), unless the Tax Shelter certificate is issued before the end of this period in which case the financial yield will be reduced in proportion to the effective investment duration.","title":"The Financial Yield"},{"body":"The main risks are the risk of losing the tax advantage, the risk of Taxshelter.be going bankrupt and the risk of a fall in or loss of the financial yield. Before investing, read carefully the Prospectus (in French; Dutch version here) before subscription on www.taxshelter.be.  The risks are described in the Prospectus on pages 13 to 19.","title":"Risks"}]},{"componentType":"sectionTitle","title":"Risks incurred by a Tax Shelter operation"},{"componentType":"paragraph","richBody":{"value":"<p>A certain number of risks are incurred in a Tax Shelter operation and these are of different types and different degrees. The risk of not obtaining the tax benefit on behalf of the investor is the main risk with as important consequence the total or partial loss of the amount invested if the guarantee mechanisms were to prove ineffective.</p><p>For example:</p><ul><li>If Shelter Prod does not receive the tax certificate. You will <strong>not </strong>therefore <strong>benefit from the temporary or definitive tax exemption.</strong></li><li>If Taxshelter.be and/or Shelter Prod is <strong>no longer accredited</strong> by the SPF Finances. You lose your investment and the associated advantages.</li><li>If Shelter Prod or Taxshelter.be were to go <strong>bankrupt</strong>, it would affect their ability to meet their obligations and you could lose your investment and associated benefits.</li><li>The Financial Yield may be less than the maximum amount if the Tax Shelter certificate is issued before the end of the 18-month period since the investment was made. If the Tax Shelter certificate is issued before the end of the 18-month period following the date of the Tax Shelter payment, the yield will be reduced in proportion to the effective investment duration.</li></ul><p>See the Taxshelter.be <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>) for more information on its protection mechanisms and risk limitation (Prospectus - pages 23 to 27).</p><p>Please read the <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>) for full details of the possible risks.</p>"}},{"componentType":"sectionTitle","title":"The parties involved: you, ING, taxshelter.be and Shelter Prod"},{"componentType":"paragraph","richBody":{"value":"<p><strong>You (1)</strong> are a Belgian company or a Belgian branch of a foreign company subject to company tax in Belgium.</p><p>Note: Legal entities that benefit from a lower tax rate since they have a taxable base less than 100,000 euros are not concerned by this investment.</p><p><strong>ING (3)</strong> 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.<br />Read more in the <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>).</p><p><strong>Taxshelter.be (4)</strong> is an eligible intermediary within the meaning of Article 194ter of the CIR 1992 and has been approved as such by the Minister of Finance. This company carries out all administrative and operational formalities for your contract and your investment. You can also track your investment online.</p><p><strong>Shelter Prod (5)</strong> is a subsidiary of Taxshelter.be. It is an eligible intermediary within the meaning of Article 194ter of the CIR 1992 and has been approved as such by the Minister of Finance. Its mission is to select the projects, receive the funds from investors and centrally manage and secure financial flows (5). This company also takes care of tax controls in order to obtain the tax certificates.</p>"}},{"componentType":"sectionTitle","title":"In practice:"},{"componentType":"paragraph","richBody":{"value":"<ul><li>Before the close of the financial year, your company signs a Framework Agreement with Taxshelter.be and Shelter Prod to invest in a production in the audiovisual, performing arts or gaming sectors.</li><li>Your company has 3 months, after signing the Framework Agreement to transfer the amount of its investment.</li><li>Shelter Prod manages your investment and ensures the money is used within the time period set down by the Tax Shelter Act (see the prospectus pages 49 to 56). This use must comply with the legislation and provisions of the Framework Agreement. Shelter Prod manages the file up to the close of the tax control by the Tax Shelter Cell.</li><li>The Financial Yield is paid out at the latest 18 months after making the investment unless the Tax Shelter certificate is issued before the end of the 18-month period following the date the investment is made. If the Tax Shelter Certificate is issued before the 18-month period following the Tax Shelter payment made, the yield will be reduced in proportion to the effective investment duration.</li><li>The SPF Finances issues a certificate to you if all the conditions of art. 194 ter of the CIR 1992 are met. When SPF Finances sends this certificate to your company, the tax exemption in the framework of the Tax Shelter operation is definitively obtained (at the latest on the 31/12 of the 4th year after signing the Framework Agreement).</li></ul>"}},{"componentType":"sectionTitle","title":"To sum up"},{"componentType":"paragraph","richBody":{"value":"<ul><li>The Tax Shelter is an investment under Belgian law in which your company supports the audiovisual, performing arts and gaming sectors. The investment consists in an obligation to transfer a certain amount with the aim of obtaining a Tax Shelter Certificate linked to an eligible work of art which, under certain conditions, opens up entitlement to a tax exemption.</li><li>The <strong>minimum amount</strong> is 1,000 euros. The <strong>maximum amount</strong> to invest is 237,000 euros. The tax exemption is limited, per taxable period, to 50% of the taxable profit with a maximum of 1,000,000 euros.</li><li>No feesThe investment cannot be transferred.</li><li>Your advantages as an investor are:<ul><li>A temporary tax exemption of 421% if the capital invested. This accounts for a tax savings of 105.25% of the amount invested (on the basis of a 25% corporate tax rate), i.e. the entire investment amount and a gain of 5.25%.(1)</li><li>Definitive tax certificate at the latest on 31/12 of the 4th year after signing the Framework Agreement if all the conditions in art. 194ter of the CIR are met.</li><li>A gross Financial Yield (EURIBOR12 months of each last day of the month of the half preceding the payment, plus 450 basis points). This yield is taxed.</li><li>The Financial Yield is paid out at the latest 18 months after making the investment unless the Tax Shelter certificate is issued before the end of the 18-month period following the date the investment is made. If the Tax Shelter Certificate is issued before the 18-month period following the Tax Shelter payment made, the yield will be reduced in proportion to the effective investment duration.</li><li><strong>Insurance</strong> against the potential loss of the tax advantage, but not the premium, within the limits of the terms and conditions of the policy, including its exclusions. This insurance, the conditions and exclusions are set down on pages 20 to 25 of the <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>).</li></ul></li><li>We recommend you read the WARNING at the top of the page as well as the risk section of the prospectus.</li><li>Before making any investment, read the <a href=\"https://www.taxshelter.be/fr/page/prospectus\">Prospectus</a> (in French; <a href=\"http://www.taxshelter.be/nl/node/11002\">Dutch version</a>).</li><li><a href=\"https://promo.ing.be/ContactStrategyBusiness/?lang=EN\">Contact us</a></li></ul>"}},{"componentType":"sectionTitle","title":"Not entirely satisfied?"},{"componentType":"paragraph","richBody":{"value":"<p>Contact <strong>ING Complaint Management</strong>, Marnixlaan/Avenue Marnix 24, B-1000 Brussels. Call +32 2 547 61 02 or send an e-mail to <a href=\"mailto:complaints@ing.be\">complaints@ing.be</a></p><p>Been in contact with ING? You can contact <strong>Tax Shelter</strong>, Rue de Genève 175, 1140 Evere. Call +32 2 770 21 33 or send an e-mail to <a href=\"mailto:info@taxshelter.be\">info@taxshelter.be</a>.</p>"}},{"componentType":"paragraph","richBody":{"value":"<p></p>"},"textLinks":[{"url":"/en/individuals/services","text":"All services and how to contact us"}]}]},"legalZone":{"flexComponents":[{"componentType":"sectionTitle","title":"Legal information"},{"componentType":"paragraph","richBody":{"value":"<ol><li>This exemption is however limited to 50% of the taxable profit of your company with a ceiling of €1,000,000 per taxable period. This temporary exemption must be confirmed by a Tax Shelter certificate. The value of this exemption is always limited to 203% of the amount of the estimated tax value of this Tax Shelter certificate. Please note that these exemption ceilings cannot be cumulated between the Audiovisual Tax Shelter, the Performing Arts Tax Shelter and the Gaming Tax Shelter.</li><li>Rate of the Financial Yield = average of the Euribor 12-month rate during the half-yearly period preceding the payment, plus 450 basis points. The Financial Yield is calculated over a maximum period of 18 months. If the Tax Shelter Certificate is issued before the 18-month period following the Tax Shelter payment made, the yield will be reduced in proportion to the effective investment duration.</li><li>Distributor: <strong>ING Belgium SA/nv</strong> – Bank – Avenue Marnix 24, 1000 Brussels – Brussels Register of Companies – VAT: BE 0403.200.393 – BIC: BBRUBEBB – IBAN: BE45 3109 1560 2789</li><li>Intermediary: <strong>taxshelter.be</strong>, 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</li><li>Intermediary: <strong>Shelter Prod</strong>, a Société Anonyme governed by Belgian law having its registered office at rue de Genève 175, 1140 Brussels, and approved as such by the SPF Finances on 13 February 2015. “Securing of financial flows&quot; can be defined as follows: each project has its own dedicated account with ING. The amounts remain on this dedicated account and are managed by Shelter Prod. The amount of the Tax Shelter does not go directly to the Producer. All eligible expenditure is controlled by Shelter Prod. Flow management is always based on Excel tables, supportng documents sent by the Producer. Everything is checked internally before paying a call for funds. Everything is overseen step by step by Shelter Prod.</li></ol>"}}]}}}