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Tax Credit Cinema

The division of CM & PARTNERS Financial Advisors

Independent investment and advisory firm.


Tax Credit Cinema

Il Italy, the provisions on tax credit provide for the possibility of offsetting tax debts (IRES, IRAP, IRPEF, VAT, social security and insurance contributions) with the credit accrued following an investment in the film sector. Recipients are film production and distribution companies, cinema exhibitors, executive production and post-production companies (technical industries), as well as companies not belonging to the cine-audiovisual sector associated in profit sharing of a cinematographic work.

Who is it for?

The tax credit

In Italy, the tax credit can be requested by film production companies and is equal to 15% of the eligible production cost, up to a maximum amount of 3,500,000 euros per tax period. In the case of associated productions, the tax credit is due to each associated producer, in relation to the production costs directly incurred and in proportion to the share of participation in the associated production. In the case of productions with tender contracts, the tax credit is due to both the executive producer and the contracting producer, in relation to the production costs incurred by each.

It is granted in relation to:

  • Cinematographic works of Italian nationality (art.5 of legislative decree n. 28 of 2004)) which comply with the cultural eligibility requirements established by Table A of the D.M. 7.5.2009 "tax credit producers";
  • Cinematographic works recognized as being of cultural interest by the Commission for Cinematography (art. 7 Legislative Decree 28/2004) which comply with the cultural eligibility requirements established by Table A and Table B of the Ministerial Decree 7.5.2009 "tax credit producers". Within the latter, the Commission for Cinematography can assign the further qualification of "difficult film", in order to allow the achievement of a higher level of public aid.
Mario Chiavalin
General Manager

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Tax Credit

Requirements for producers

To access tax benefits, production companies must ask the Directorate General for Cinema for recognition of the cultural eligibility of the cinematographic works produced. The works in question are subjected to an eligibility test which ensures their Italian or European cultural origin (table A of the Ministerial Decree of 05/07/2009). A specific technical investigation is carried out, resorting if necessary to the opinion of the Commission for Cinematography. If within the month following the request for recognition there is no provision of refusal, the cinematographic work automatically obtains cultural eligibility.

Group 3642x-1
The tax credit (even if already attributed)

is revoked or lapses in the event of:

  • failure to definitively recognize the nationality requirement
  • takeover by another production company
  • failure to comply with the territorialisation constraint
  • failure to present the final application (which concludes the application procedure) within 90 days from the date of the application for the issuance of the public screening authorization
Territorialization constraint

Tax Credit Producers

In Italy, an amount equal to at least 80% of the amount of the tax benefit must be spent on the national territory.

Investitore esterno

External Investor

The tax credit is also due to the "external" investor (subject other than the film producer) who provides a capital injection for the realization of a film work. The contribution cannot exceed 49% of the eligible production cost of the cinematographic work and the tax benefit is equal to 40% of the contribution provided (up to the maximum amount of credit of 1,000,000 euros per tax period) .



If the external investor who provides the contribution is a distribution company, the tax credit due is 20% (up to a maximum amount of 1,000,000 euros of credit per tax period). It is necessary that at least 80% of the external contribution received is spent by the producer of the cinematographic work on the Italian territory (as defined by article 1, paragraph 10 of the Ministerial Decree of 7.5.2009 "tax credit producers").



The legal instrument, through which the capital injection can be carried out, is the contract (between film producer and external company) of joint venture or joint interest. In the contract, the profits due to the external investor cannot exceed 70% of the total profits of the cinematographic work.

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