Italian Government proposes tax credit for book purchases

The Italian Government has proposed new legislation that would allow individuals to claim a 19% tax rebate on book purchases, reports the Bookseller. If passed, the new law will apply to book purchases up to a cap of €2000 (A$3083) per year, with €1000 (A$1541) allocated for purchases of textbooks and other educational texts. According to TeleRead, the tax rebate is part of a range of measures called ‘Destination Italy’, which are designed to promote Italian business and culture. Also included in the ‘Destination Italy’ package are tax credits for music and film productions and measures to promote foreign investment in Italy. The Bookseller reports that the Federation of European Publishers has welcomed the proposed legislation, saying that ‘European publishers appreciate very much (Italy’s) commitment in this and we hope that … [this] will be the first of many similar initiatives in Europe’.

Category: International news