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 contribution and selective contributions.
The law recognises six types of tax credits:
Tax credits for companies that do not operate in the sector 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 the production and distribution in Italy and abroad of Italian film and audiovisual works.
Carla Felli
Phone: + 39 06 6723 3329
Email: carla.felli@cultura.gov.it
Mariassunta Bottoni
Phone: +39 06 6723 3224
Email: mariassunta.bottoni@cultura.gov.it
Companies operating outside the film and audiovisual sector are eligible for tax credits equal to 30% of investments made in the production of feature films up to the annual maximum of €1,000,000 per company and €2,000,000 per group of companies (this will be reduced to 20% starting from 1 January 2020).
The rate increases to 40% for works that have been granted selective support.
The work must meet cultural eligibility requirements.
The amounts granted to companies not operating in the sector must not exceed 70% of the investment for feature films (60% for works that have been granted selective support).
The preliminary application must be submitted to DGCA: no earlier than 30 days after the registration of the production partnership contracts concluded with Italian independent producers.
The final application must be submitted to DGCA no earlier than 180 days after obtaining authorisation for public screening.
Tax credits for companies not operating in the sector are non-transferable.