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Lifeline for Italo biz: 6 months more for tax credits.

Daily Variety

| December 23, 2010 | Vivarelli, Nick | COPYRIGHT 2009 Reed Business Information, Inc. (US). (Hide copyright information)Copyright

The cash-strapped Italian government approved the country's tax incentives for film production for another six months Wednesday, giving local industry some relief but leaving producers concerned about the future beyond that.

After the incentives were frozen in the fall, there were heated protests. Industryites invaded the Rome Film Festival red carpet and went on strike to protest both the freeze and the prospect of draconian cuts to the national film fund.

The six-month window is seen as insufficient for the industry.

"For the tax credit and tax shelter to really be effective, they need to be extended and financed for a three-year period," said Paolo …

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