For the Cinema Directorate of the Ministry of Culture, the Association of Executive Producers (Ape) and the Foreign Trade Agency (ICE), flew to Nevada, the American Film Market, one of the largest audiovisual content markets in the world , is the ideal showcase to present the new tax credit to international producers, a measure which, with a budget of 400 million euros for 2024, grants 40% tax credit on production costs and the 30% on the salaries of non-European professionals involved in the projects.
“The American market has been waiting for this legislation for a long time,” reiterates Giosafat Riganò, director of Ice in Los Angeles, who considers the tax credit a fundamental tool to attract the big and small names of Hollywood, who can benefit from tax deductions through local executive producers.
In 2023, 402 films have already been produced in Italy, including 92 co-productions: 13% more than in 2022 and 23.7% more than in 2019. Today, thanks to the agreement signed between Intesa San Paolo and APE, the association that has supported most of the foreign productions that have landed in the country, guaranteeing a turnover of €315 million, the trend could grow further because “it will help all independents to work better in our country,” adds Marco Valerio Pugini, president of the association
A reference also goes to the local workers, capable of making our offer to international partners even more competitive. Manuela Cacciamani, CEO of Cinecittà, explains: “We already have 19 very competitive and technologically advanced theatres. Five more will be added in the first half of 2026. The workers who work there are our flagship”.
Ph. Pxhere
