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Act 4652, which passed the Senate of the Republic last Wednesday, has been hailed as "an important acknowledgement" of the importance of the Italian live business
By Jon Chapple on 13 Nov 2017
-Vincenzo Spera, the president of Italian promoters’ association Assomusica, has said he “extremely satisfied” with the passage of a new law recognising live music as a “fundamental component of the country’s cultural, artistic, social and economic heritage”.
Act 4652, adopted on Wednesday 8 November, for the first time gives the government a role in regulating Italy’s concert market, and follows the recent cut in VAT on live shows, similarly welcomed by the association.
According to Assomusica, the new law provides for:
“The approval of the proposed law comes just after the government’s decision to extend, in the 2018 budget law, the application of [reduced] VAT on artist performances as part of live shows,” comments Spera. “This is a regulation that the sector had been expecting for almost ten years, and which is an important acknowledgement of a significant business sector.
“These two great results have been made possible especially due to the petition to revamp the pop music sector launched in the spring of last year. Artists, sportsmen, famous names from the world of culture and showbusiness, professors, students and numerous music lovers have joined this appeal, [and] we want to share the good news with all of them.”
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