Italian government boosts exhibitors’ tax credit to 40%

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Italy’s government elevated the tax credit obtainable for exhibitors from 20% to 40%, in a bid to present extra assist to the struggling sector.

“The tax credit for cinema theatres has been fortified,” stated a government assertion. “Relevant fiscal rebates and their area of application has been changed from a current existing maximum amount of 20% of all revenue from audio-visual programming to a maximum of 40% of total cinema theatre costs.”

The legislation was launched final week and is the most recent measure the government has launched to bolster the exhibition business, which viewers ranges and field workplace takings drop round 65% within the first 4 months of 2022 in contrast to the identical interval in January-April 2019, in accordance to knowledge launched earlier this month by Italy’s distributors’ affiliation Anica – Unione Editori e Distributori Cinematografici.

Cinemas in Italy have been solely allowed to open at full capability final October.

“This is a first step towards restarting, but we urgently need a framework law putting an end to the ‘wild west’ situation in existence with windows,” stated Manuele Ilari, who heads Ueci, the affiliation of Italian cinema theatres. “We need windows of over a year for Italian and international films, as it is only through this that we will be able to bring Italian cinema and our theatres back to real relevance.”

The Italian government’s introduction of a blanket 90-day theatrical window for all movies (Italian and non-Italian), which overturned a leisure of windowing guidelines introduced in throughout the pandemic, isn’t thought-about sufficient by exhibitors and theatre homeowners.

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Last week, Anica, Italy’s distributors’ affiliation, additionally voiced concern over the government’s extension of the requirement for cinema-goers to put on anti-Covid masks by June 15.

Some 500 theatres closed for good in Italy throughout the pandemic and with out substantial exhibitor assist extra might comply with, which might put some 100,000 jobs within the sector in danger, in accordance to Ueci knowledge launched final month.

The government has additionally elevated assist of movie and tv productions by a rise in supplied tax credit to 40% of complete manufacturing prices, from a earlier 30% final 12 months.

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