ITALIAN GOVERNMENT OFFICIALS AVERT FILM FESTIVAL BOYCOTTS
The Italian government has averted a boycott of the Venice, Rome and Turin Film Festivals, by introducing huge tax incentives to make movies in the country.
Members of the Italian film industry threatened to walk away from the nation’s biggest movie events, after authorities cut tax credits last month (Jun08) - depriving local communities of $250 million (£125 million) in movie money.
But the festival boycott was called off after Silvio Berlusconi’s government reintroduced the measure, which produces tax credits amounting to 25 per cent of a film’s budget, up to $7.7 million (£3.85 million).
The credits were first introduced in 2007 to help boost Italy’s film industry. Last year $496 million (£298 million) was spent on movie shoots in the country.
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
Related News:
