Mostra Venezia, memorandum of understanding signed between ICS and Cinema and Audiovisual Mic direction

Presented in Venice, on the occasion of the 79th Venice Film Festival, at the Italian Pavilion of the Hotel Excelsior, the memorandum of understanding between the Istituto per il Credito Sportivo, a social bank for the sustainable development of Italy through Sport and Culture, and the Cinema and Audiovisual Directorate General of the Ministry of Culture. “The aim of the Convention is to strengthen mutual collaboration to promote artistic expression, cultural education and social communication, also through tax credit – a note reads – the recognition of automatic and selective contributions , as well as the payment of contributions to film promotion activities and initiatives “. “The agreement is aimed, in fact, at supporting the cinema and audiovisual sector through the anticipation of the automatic and selective contributions attributed to the production companies by the decree of the Director General of the DGCA – explains the note – Once attributed, can be granted by Ics up to a maximum of 90% of the value of the contribution to entitled persons with legal capacity as a joint stock company and for a maximum duration of 18 months. From July 2021, meanwhile, the Istituto per il Credito Sportivo has expanded its commercial offer with a range of opportunities dedicated to the world of cinema and audiovisual and, in less than a year, has approved over 50 million euros in funding in favor of small and large producers. Thanks also to the signing of this protocol in agreement with Mic-DGCA, the Institute intends to support producers and all Italian cinema with flexible financial solutions in an increasingly structured and systematic way able and consistent with the needs of the sector, understood as a form of enhancement of the cultural heritage of our country.