The Ministry of Cultural Heritage and Activities and Tourism, Dario Franceschini, and the Ministry of Economy and Finance, Roberto Gualtieri, have signed a tax credit upgrading by 2020.
The aim is to support and help the entire cinematographic and audiovisual national industry in order to allow a better restart relieving the effects of Covid-19 pandemic.
According to this measure:
- Cinema tax credit will be recognized until 31 December 2020 and rates will be increased by 10 percentage points up to a maximum of 40% for films which have maintained at least two weeks of filming in the period 23th February – 30th November 2020.
- Derogating from actual provisions, the tax credit amount will be also recognized to unfinished production due to the impossibility to complete filming as effect of pandemic, covering up to 40% of cost incurred.
- If not available on the market, it’s established the non-compulsory risk insurance for technic stop related to Covid-19.
The Ministry Dario Franceschini has reaffirmed the importance of this tax relief instrument for productions and the introduction of a mechanism to protect against Covid-19 risks and effects.