TIGA outlines UK’s Games Tax Relief, calls for 30% flat rate
TIGA, the UK games industry’s trade association, outlined its recommendations for Games Tax Relief to the British government today. Following the government’s backing earlier this year for tax relief support (as provided in Canada, France, and the US) TIGA called for a 30% flat rate to save the nation’s struggling games industry.
TIGA also suggested an alternative of tiered rebate, with 30% for projects costing less than £250,000 (just under $400,000), and 25% for those costing more. TIGA’s proposal includes recommendations of post-release costs being covered, eligibility for educational games, and support for free-to-play games and those based on in-game advertising.
TIGA believes the proposed model can bring more than 4,500 jobs to the UK games industry over the next five years, and increase its returns by nearly $0.5 billion.
The news follows the recent demise of Sony Liverpool, one of the UK’s longest serving game studios. The government will now consider TIGA’s proposal, with the aim of introducing GTR from April 2013, subject to European Commission approval.Continue reading TIGA outlines UK’s Games Tax Relief, calls for 30% flat rateTIGA outlines UK’s Games Tax Relief, calls for 30% flat rate originally appeared on Joystiq on Mon, 03 Sep 2012 15:00:00 EST. Please see our terms for use of feeds.
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