TAX CREDIT EXTENDED TO ALL RECORD PRODUCTIONS

With the approval of the so-called “Decree Law August”, Italian Parliament changed the tax credit rules for record producers.
From 2021 the tax credit will be granted for all record productions, thus exceeding the previous limit of three albums per artist. The measure aims to relaunch investments in music production in Italy and provides for the granting to record companies of a tax credit equal to 30% of the costs for the production, development, digitization and promotion of phonographic and videographic recordings provided that at least 80% of these investments are made in Italy.