Creation of the tax credit for live music and variety show production expenses

Article 113 of the 2016 Finance Act creates a tax credit (article 220 quindecies of the general tax code) for live show producers subject to corporate tax, covering creation, running and digitisation expenses of music or variety shows by artists who have not exceeded 12,000 paid admissions per show in the previous three years. It equals 15% of eligible expenses (30% for micro, small and medium-sized enterprises), capped at €500,000 of expenses per show and €750,000 of credit per company and financial year, subject to approval by the Ministry of Culture.