The maximum tax credit request limit will increase by 800.000 euros in three years up to 30% for companies producing recordings, musical videograms and live music.
Each company will therefore be able to request and obtain a tax credit over a three-year period for a maximum of 2 million euros (instead of the current 1.2 million): this was introduced by an amendment to the Italian Tax Decree reformulated by the Government and approved by a large majority.
This money can be claimed for recording costs, mixing, making videos, paying/licensing copyrights and other A&R expenses.
This amendment follows the result of the total credit collected between 2015 and 2022 with an equal distribution between the major’s repertoire (51.6%) and the indies one (48.4%) for a total of 298 beneficiary works.