Italy’s Right-Wing Government Dithers and Delays Production Tax Incentives, Prompting Industry Uproar
variety.comNick Vivarelli International Correspondent After reaping the rewards of a protracted growth spurt, Italy‘s film industry is 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 now stalled tax incentives for film and TV production.
At a packed protest event held earlier this month in 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 government to approve new guidelines so production companies can apply for the 40% tax credits that basically drive the business.
Some are also concerned that their projects might end up not complying with still murky new eligibility criteria. “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 totaling about €700 million ($744 million) this year.
Read more on variety.com
