Italy's Decreto Rilancio: €50 Million for Culture, Tax Breaks, and a 'Netflix of Culture'
On May 13, 2020, Italian Prime Minister Giuseppe Conte unveiled the Decreto Rilancio, aimed at reviving the economy amid the COVID-19 pandemic, with specific allocations for culture and tourism. The initiative includes a €50 million Fondo Turismo for 2020, which may rise to €100 million in 2021. Key provisions feature a vacation tax credit, an IRAP exemption for businesses earning up to €250 million, TOSAP exemptions for bars and restaurants, and grants for tourism operators that do not require repayment. Additionally, a €100 million fund is set aside to assist municipalities with lost tourist tax income. The Fondo Cultura is granted €50 million for 2020, and €245 million will support cinema and performing arts until 2022. Parma's designation as Italian Capital of Culture is extended to 2021, while MIBACT receives €10 million for a cultural platform.
Key facts
- Decreto Rilancio presented May 13, 2020 by PM Giuseppe Conte
- Fondo Turismo: €50 million in 2020, possible €100 million increase in 2021
- Vacation tax credit up to €500 per family
- IRAP exemption for businesses/self-employed with revenues up to €250 million
- €100 million fund for municipalities to offset lost tourist tax revenue
- Fondo Cultura: €50 million for 2020, expandable by €50 million in 2021
- Emergency fund: €100 million for museums, €245 million for cinema/performing arts
- Guarantee fund for cultural industries via Cassa Depositi e Prestiti and Istituto per il Credito Sportivo
- Parma's Capital of Culture title extended to 2021; selection now for 2022
- €10 million for 'Netflix of culture' platform
- 60% tax credit on rent for cultural entities with turnover up to €5 million and losses over 50%
- €600 allowance for entertainment workers extended for April and May
- Art Bonus 65% tax credit expanded to circuses, ensembles, choirs, traveling shows
- 2019 5x1000 advanced to 2020, disbursed by October 31
Entities
Artists
- Dario Franceschini
- Giuseppe Conte
- Pierluigi Battista
- Fabiola Iraci Gambazza
- Giovanni Maria Riccio
Institutions
- MIBACT
- Federculture
- Cassa Depositi e Prestiti
- Istituto per il Credito Sportivo
- Artribune
- Gazzetta Ufficiale
- Ministero per i beni e le attività culturali e per il turismo
- Ministero dell'economia e delle finanze
- Fondo IMAIE
- Università di Salerno
- Politecnico di Beja
- Università Joseph Fourier di Grenoble
Locations
- Italy
- Parma
- Firenze
- Venezia
- La Spezia