Tax Credits for Production Companies — Law n° 220/2016 (art. 15)

Description

Law n° 220 of 14 November 2016 'Disciplina del cinema e dell'audiovisivo' establishes the 'Film and Audiovisual Fund' aimed at funding works through tax credits, automatic contributions and selective contributions.

The law recognises six types of tax credits:

Tax credits for production companies (article 15);
Tax credits for distribution companies (article 16);
Tax credits for film exhibitors, technical industries and post-production companies (article 17);
Tax credits for strengthening the film supply (article 18);
Tax credits for attracting investments in film and audiovisual products to Italy (article 19);
Tax credits for companies that do not belong to the film and audiovisual sector (article 20).

Tax credits for production companies allow companies to offset tax liabilities (IRES – corporate income tax, IRPEF – income tax, IRAP – regional income tax, VAT, social security and insurance contributions) with credits accrued following an investment in film and audiovisual development and production.

Contacts

Stefano Bisignano – MiC-DGCA
Phone: 06.67233410
Email: stefano.bisignano@cultura.gov.it

Link to the call Print Tab

Data sheet

Production

Italian Film or co-production
Co-Production

Distribution channel

Cinema
Television
Web

Film industry branch

Development
Production

Eligible projects

Feature Film
Short Film
TV series
Documentary
Animation
Web product

Beneficiaries

Italian production company

Maximum contribution

Development: €300.000
Production: €9 milioni, elevabili a €18 milioni di euro in caso di risorse provenienti da Paesi al di fuori dell’Italia per almeno il 30% del costo complessivo.

Maximum quota on cost

Tax credits and other State support may not, all together, exceed 50% of the cost of the audiovisual work (this increases to 60% and 100% for certain types of works – see article 5 of the implementing decree).

Type of contribution

Tax credit

Tax credit rate

Development of web film and audiovisual works (no short films): 30% of expenditure

PRODUCTION

independent producers: of films: 40% of expenditure (independent producers); 25% of expenditure (non-)
non-independent producers: 25% of expenditure

Requirements

Italian nationality must be requested

DEVELOPMENT (distribution channel: CINEMA, TV, WEB)

ATECO code J 59.1
Subject to taxation in Italy or other European Economic Area country
Registered office in the European Economic Area
Non associazioni culturali o fondazioni non a scopo di lucro
Minimum paid-up share capital and minimum net assets: € 40,000 (No short films)

PRODUCTION (distribution channel: CINEMA)

ATECO code J 59.1
Subject to taxation in Italy or other European Economic Area country
Registered office in the European Economic Area
Only businesses with paid-up share capital
Minimum paid-up share capital and minimum net assets: € 40,000 (€ 10,000 for short films)

Payment schedule

DEVELOPMENT

L’impresa invia la richiesta definitiva entro 60 giorni dal termine del sostenimento delle spese di sviluppo.
La DGCA comunica l’esito della richiesta entro 60 giorni dalla ricezione della richiesta definitiva.