|04 April 2013||#1|
Washington DC, USA
BBC NEWS: UK games industry faces EU tax break investigation
The UK video games trade body Tiga says it is "disappointed" that the EU has decided to probe a planned tax break.
The deduction was due to have been introduced on 1 April, but was delayed after the European Commission failed to approve the plan.
On Tuesday the regulators ruled an in-depth investigation was needed as they believed there was "no obvious market failure" that needed to be addressed.
The UK government says it remains committed to the proposal."
|04 April 2013||#3|
Join Date: Aug 2007
Tax breaks are just the standard way of showing 'support' for industries - it means the government doesn't have to front up any cash.
It's frustrating for small businesses though - in UK film production we have a 'producer's tax credit' which allows you to reduce/reclaim tax on a completed film - great if you can get that far but it does nothing for helping you get a film financed.
Larger productions can secure a loan off the back of the tax credit from some UK banks but you need a budget in the low millions minimum to arrange something like that - just getting the paperwork done costs more money than most indie films
Andrew G. Morgan
Survivor Films Ltd.
|04 April 2013||#6|
Critical Fusion Inc
Investors are not all that interested in investing in games these days ... too high risk, too costly, and more often than not, very little profit. Same for film.
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