Italy raises film tax credits
Italy seems set to emerge from years of slashed budgets and spending cuts as the senate passed a bill this week to re-invigorate the country’s cultural industries, directly benefitting the film industry.
Within this parameter, the audiovisual sector fares rather well: an increment in the tax credit ceiling for Italian production companies from around €5m to approx €10m will take effect from early next year. The overall tax credit for the audiovisual industry also rises from next year, €110m to €115.
And with echoes of Cinema Paradiso, there is also a 30% rebate for spend on the restoration of independent or arthouse cinemas which, having enjoyed a rich heritage in Italy in the past, have been sadly on the decline in recent years.
The bill was proposed by Dario Franceschini, minister of heritage and cultural activities. The country has a plethora of regional film offices, including Bologna, Abruzzo, Genova-Liguria, Lombardia and Trentino. The main Italian Film Comission is based in LA.
For more information on filming in Italy, visit our production guide.