Italian Film Business Lashes Out at Political Delay
variety.comNick Vivarelli International Correspondent Italy’s film industry is fighting to stay vibrant amid disruption caused both by politics and market forces.After reaping the rewards of a protracted growth spurt, local producers are facing a forced slowdown as the country’s right-wing government dithers with modifications they plan to make to several key regulations, most significantly to the country’s currently stalled tax incentives for film and TV production.
At a packed protest event held in early April at Rome’s Cinema Adriano multiplex, industry figures from all sectors – including producers, writers, actors and big-name directors such as Paolo Sorrentino and Marco Bellocchio – lashed out against having to wait endlessly for the culture ministry to approve new guidelines so production companies can apply for the 40% tax credits that basically drive the business. “We are waiting for the new regulatory framework, and more importantly we need to know how much money the government will grant,” said producer and distributor Andrea Occhipinti, chief of prominent Italian indie Lucky Red, during the Rome event.
In mere monetary terms, Italy’s culture minister Gennaro Sangiuliano has assured that the government plans to only shave off some €50 million from the 2024 tax credit pot that is expected to end up totalling about Euros 700 million ($744 million) this year.
The problem is that it’s still unclear when this tax credit money will actually become available as the government – which appears to be divided on this crucial matter – continues to keep the industry on standby.
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