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Informativa in fase di aggiornamento

Everybody knows that a thing is inexplicable until some unknowing fool comes along and explains it.

(Albert Einstein)

A fund for the development of investments in the cinema and audiovisual sector and a renewed tax credit regime in the new Cinema Law

A fund for the development of investments in the cinema and audiovisual sector and a renewed tax credit regime in the new Cinema Law

On Nov. 3, 2016, the Italian Chamber of Deputies approved a new law regarding “regulations in the cinema and audiovisual industry”.  Beginning in January 1, 2017, such law will replace numerous legislative and regulations in place. The new law is aimed at redefining the regulations related to the cinema and audiovisual industry, for the purpose of revival and development of a strategic sector from a cultural, social and economic point of view. Among the several innovations introduced with the new law the establishment of a “Fund for the development of investments in the cinema and audiovisual sector” that will contain not less than 400 million euro per year and tax credits, designed to encourage production and distribution of Italian cinematographic works as well as the executive production and post-production, recognized for Italian companies dealing with executive production and post production, in relation to film and audiovisual works created in the national territory, utilizing Italian labor, on commission from productions abroad: the amount should be no less than 25% and no greater than 30% of the overall costs incurred in the national territory.