Italy Pledges To Slash CD Sales Tax, Fight Piracy
The Italian government has promised to reduce the sales tax on CDs from 20% to 10% "by the summer." The move this week follows a meeting in Rome involving government officals and Sugar Music president Caterina Caselli.
Caselli has been particularly vociferous in calling on the government
to help the country's ailing music industry.
The government also promised to present a bill before Parliament that would call for tax breaks on label investments in new artists, quotas on foreign music played on TV and radio, and the establishment of a music export office. It also pledged stronger support in the fight against piracy, which is believed to account for 25% of record sales in Italy.
Piero La Falce, president/CEO of Universal Music Italy, tells Bulletin, "This announcement is great news. It shows that the government is finally taking notice of an industry that, let's face it, provides jobs for 115,000 people in Italy."
Caselli has been particularly vociferous in calling on the government
The government also promised to present a bill before Parliament that would call for tax breaks on label investments in new artists, quotas on foreign music played on TV and radio, and the establishment of a music export office. It also pledged stronger support in the fight against piracy, which is believed to account for 25% of record sales in Italy.
Piero La Falce, president/CEO of Universal Music Italy, tells Bulletin, "This announcement is great news. It shows that the government is finally taking notice of an industry that, let's face it, provides jobs for 115,000 people in Italy."
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