Things
It is a tax credit recognized to executive production and post-production companies, in an amount of no less than 25 percent and no more than 40 percent of the expenditure incurred on the national territory for the creation of audiovisual works, or parts of they, not having the requirement of Italian nationality, made using Italian labor, commissioned by foreign productions, provided that at least one day of filming or work in the case of animation works is carried out on Italian territory.
Who is it aimed at?
To executive production and post-production companies: a) which have their registered office in the European Economic Area; b) which, at the time of using the benefit, are subject to taxation in Italy as a result of their tax residence, or for the presence of a permanent establishment in Italy, to which the audiovisual work to which the benefits are related can be traced back; c) which have a minimum fully paid-up share capital and a net worth of no less than 40,000 euros, both in the case of companies established in the form of companies of capital both in the case of individual production businesses or those set up in the form of partnerships; these limits are reduced to the amount of 10,000 euros in relation to the production of a short film; d) which are different from cultural associations and non-profit foundations; e) which are in possession of ATECO J 59.11 classification; f) which are in compliance with obligations in social security, tax and insurance matters as well as in matters of hygiene and safety at work and which apply the current national collective labor agreements; g) which are not in situations which prevent them from negotiating with public administrations; h) which have not bankruptcy proceedings underway.
What does it predict
the recognition of a tax credit in relation to the actual creation on Italian territory, commissioned by foreign production companies, of audiovisual works, or parts of them, using mainly Italian or European Union labour, in measure equal to 40 percent of the eligible production cost of the individual work and in any case within the maximum annual limit, for each company or group of companies, of 20,000,000 euros.
