29/08/2003

This afternoon in Venice, the Italian minister for culture, Giuliano Urbani, will present his government’s decree reforming the national film industry legislation.
Informed sources indicate that key changes include the abolition of preventative censorship and the establishment of a system of auto-classification for producers. It also includes the introduction of tax shelters and a reference system.
The reference system is an all-new (for Italy) criterion for public funding. Funds will be assigned according to the relative merits of a given film but above all, according to its commercial potential. There is an upper limit of 50% of a film’s budget.

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Italy is also scheduled to introduce tax shelters and incentives similar to those in-place and operational in EU member states like Germany, Holland, Luxembourg and the United Kingdom.

(Translated from Italian)