Creation of a tax credit for music publishing expenses

Article 82 of the 2022 Finance Act creates a tax credit (Article 220 septdecies of the General Tax Code) for music publishers subject to corporate income tax, covering expenses for creating, administering, publishing and exploiting works by new talents under contracts concluded from 1 January 2022. The rate is 15%, raised to 30% for SMEs, with a cap of €500,000 of credit per company and per financial year. The credit requires approval from the Minister of Culture; Decree No. 2022-1424 of 10 November 2022 sets the implementing rules.