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Italy law proposal bringing tax benefits for game development

Italy law proposal bringing tax benefits for game development

Thu 12 Apr 2012 8:58pm GMT / 4:58pm EDT / 1:58pm PDT
BusinessTechnologyDevelopment

The proposal would bring tax credit and tax shelters to game developers with their operations in Italy

Today, members of The People of Freedom (Il Popolo della LibertÓ, PdL) political party in Italy introduced a law proposal for the European Commission's Digital Agenda. The law proposal aims to create tax credit and tax shelter for the development and distribution of games in Italy. In addition, it will help venture capitals invest in Italian game companies and research & development projects at universities and public research organizations.

The Italian Gaming Software Publishers Association (Associazione Editori Software Videoludico Italiani, AESVI) welcomes the measures as a chance to improve the region's efforts at digital innovation.

"The law proposal on the Digital Agenda presented by PdL political party to the Italian Government represents a historical step for the development of the games industry in Italy. If approved, it will contribute to make Italy a good country for interactive entertainment business, from start ups to major studios," said Thalita Malag˛, AESVI Secretary General (pictured above). "Investing in the games industry means investing in young people, in creativity, in innovation and in economic growth."

"This law proposal could have a significant impact on the competitiveness of the Italian video games production as well as on the capacity to attract foreign investment. It could not only favor the existing companies, but could provide the basis for the development of new businesses, by encouraging investments of venture capitals and institutions. As it happened in other countries, it could also significantly contribute to the growth of the national economy as well," said Giovanni Bazzoni, CEO of Italian developer Digital Tales and representative on AESVI's Board of Directors.

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