Government gives tax credit renewal the green light
- The decree was approved by the Council of Ministers today, with €90 million set aside for cinema tax credit
The government has decided to refinance the tax credit for activities tied to cinema production, thereby completing the partial financing announced two months ago. Prime Minister Enrico Letta confirmed the move at the end of the Council of Ministers session. “A very important allocation, which will allow our country to continue attracting cinema production entities,” Letta underlined.
The approved decree will provide for €90 million in tax credit to go towards cinema production. Financing will be for 2014 and 2015 and will “give a sense of stabilisation and direction.”
The president of ANICA, RiccardoTozzi expressed great satisfaction. “Now we have to continue making it clear to everyone that cinema and the culture industry are great opportunities for the country.”
Cinema industry organisations made it clear they would boycott meetings on the state of cinema organised by Culture Minister Massimo Bray at the next Venice Film Festival if the situation was not resolved. “Collaboration with executive branches will now be able to resume, starting with Venice, in order to draw up cinema policy adapted to these times,” Angelo Barbagallo, president of ANICA producers, said today.
(Translated from Italian)
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