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INDUSTRY / MARKET Italy

The Audio-Visual Producers Summit hosts a panel discussion on incentive schemes

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- Speakers from the British Film Institute, the CNC and the Italian Ministry of Culture broached the topics of co-productions and tax incentives in their respective countries

The Audio-Visual Producers Summit hosts a panel discussion on incentive schemes
Nicola Borrelli, Daphné Lora, Agnieszka Moody and Roberto Stabile during the panel

Incentive schemes formed the focus of a panel discussion organised for international players at the Audio-Visual Producers Summit (running 10 - 12 June) in Scilla, Calabria. Contributions from Agnieszka Moody, Head of International Relations at the British Film Institute, Daphne Lora, Head of Film at the French CNC, and Nicola Borrelli, representing the Italian Ministry of Culture’s Film and Audiovisual Department, covered the topics of co-production and tax incentives in the speakers’ respective countries, in a discussion moderated by Cinecittà’s Roberto Stabile.

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More specifically, Borrelli announced the imminent arrival of a new set of rules for which the industry has been clamouring for some time: “We’re currently rewriting our support schemes, starting with tax credit. We’re revising these support schemes because we needed to adjust certain mechanisms which weren’t entirely in keeping with the legislator’s intention. Once we’ve made a few minor adjustments, we’ll have a definitive version of tax credit rules. We’ll also be making some small amendments in order to attract international investment, including minimum spending requirements on Italian soil. This will also be the case for post-productions. The aim isn’t to save on available resources, but to rationalise and avoid the waste and abuse which we have seen in certain contexts, no matter how contained. But most investments have hit their targets and the system in Italy is significantly different to what it was in 2019″.

Agnieszka Moody reassured attendees over initiating co-productions following Brexit: “There is so much talent in Italy and the UK, and we can do some amazing things together. Even if we’re not part of the European Union, we feel European and we’re still in the European Council”. On this note, Borrelli added that a co-production agreement with the UK is forthcoming and will be formalised after the General Election has taken place in Britain on 4 July.

Borrelli reminded attendees that all works which are 100% Italian will be supported, as will those made through the existing co-production agreements the country has with thirty countries, or through the European Council convention, which the UK is also signed up to. “What’s more, we have international partnerships with producers from countries who don’t currently have active co-production agreements with us. Basically, any country can collaborate with Italian producers and see their work awarded Italian nationality, if the necessary criteria are met, and ultimately gain access to all of our incentives”.

Daphne Lora gave a detailed explanation of the French support system for co-productions. “The French”, Borrelli reiterated, “are our most important partners from both a qualitative and a quantitative viewpoint. We have a co-development and co-production agreement with them. The aim of this is to boost the internationalisation of our films, which under-secretary Lucia Borgonzoni has really driven forwards. The hope is that these interventions will last us for a number of years. We might have more room to breathe, for the first time ever, and a consistent set of rules for the next three years”.

As for international tax credit, “there will be different lines of action for costs, depending on whether we’re dealing with Italian or European parties, or non-Europeans: the former could benefit from 40% tax credit relief, the latter 30%”.

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(Translated from Italian)

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