Now more than ever, Italy offers huge incentives for the production of movies and TV series, and we know how to maximise them for you. This is a brief overview of the current situation: A new law was passed in Italy on November 3, 2016, to increase the public funding of films and TV series to € 400,000,000 per year, thanks to a self-financing system that automatically guarantees the funds. Tax credits are increased, making them easier to draw upon.
Any Italian Production Service company who carries out at least 1 day of shooting in Italy on behalf of a foreign audiovisual project is provided a 40% tax credit, calculated on all the expenses incurred in Italy.
Here is a summary of the main requirements that will enable you to obtain the benefit by contracting an Italian production company such as ours:
- All Italian expenses are eligible, if they are actually paid by Viola Film, except for the production/commission fees and IRAP tax on personnel (Regional tax on productive activities = 4.82% of personnel cost).
- There is a max limit on eligible costs, which is 80% of the overall budget.
- The tax credit must be requested through an online application when the window for applications is open, and not earlier than 90 days before the beginning of the preparation/scoutings. Within 120 days from the application date, proof must be provided that 25% or 2 weeks of consecutive shooting days have been completed in Italy.
- Compared to what will be requested in the application, an excess of up to a further 10% of eligible costs will be accepted, but only in the final application after the project's closure. All the expenses that exceed this further 10% won't be eligible.
For more detailed information, please feel free to contact us and we will arrange a call to discuss details.