09/09/2011

Economic Development Minister Paolo Romani today announced a round table of national consultation between film producers, authors and bodies that may be able to contribute to development “in order to create excellent products and to be able to export them too”. Speaking at the Venice Film Festival at the 'Banks and Cinema 2011' conference, the minister said that the film sector is growing, and that its potential has risen with the “decline of generalist TV” - in short, it's a resource that should also be promoted by exploiting external tax credit from all financial institutions.

(The article continues below - Commercial information)

On the occasion of the Anica conference, Ministry of Culture Cinema Director Nicola Borrelli presented some updated figures - banks have invested around EUR9.5 million on 17 films in eighteen months. Still, this is too few. “We have to make sure that tax credit is a more widely used tool by the banks and financial institutions, which today represent 16% of all parties that have brought external resources to production. The resources used by the banks thanks to the tax credit amount to 31% of the total external contributions, 40% if we consider the whole financial world."

According to Anica President Riccardo Tozzi, the recently introduced internal tax credit has been working well, but not so the external tax credit. 30% of available funds have been left unused, which is serious in a period where public funding has in just a few years gone from 88% to 12%.

(Translated from Italian)