Italy gives boost to music labels
Tax breaks introduced to help independents
|
More Articles:
Most Viewed:
'New Moon' wins Thanksgiving box office(3854 views)Invictus(1889 views)Hollywood sea of change(1833 views)Paramount lands 'Area 51'(1638 views)'New Moon' crosses $200 million(1410 views)Christopher Eccleston plays Lennon(1160 views) |
The 10% deductible tax credit covering production and development of first or second works by emerging artists follows a similar government initiative recently passed in France.
The tax breaks, contained in Italy's 2007 national budget, are limited to labels with a turnover not exceeding E15 million ($19.5 million.
Europe's indie music publishers' org Impala, which has more than 3,500 members, has hailed France and now Italy's introduction of this policy.
"Other territories should follow suit to promote the diversity of European music," said Impala chairman Martin Mills, prexy of the U.K.'s Beggars Group, Blighty's largest indie record label.
