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UK Govt. Plans Video Game Tax Breaks |
Listed in: News Tags: crytek uk, uk video game tax break, video game developer
Starting with the next tax year, the UK government will be extending "generous" tax break opportunities to video game developers within the country. They want to make Britain "Europe's technology centre," you see. In addition to helping those already in-country, the government is hoping that this move will attract more developers to the country.
The Autumn Statement from the HM Treasury has all the details, if you want to read a PDF of a government document. The long and short of it is that the tax breaks will be for video games, animation, and high-end TV shows. This tax break is supposed to be "among the most generous in the world" and consists of payable tax credits worth 25% of qualifying expenditure.
The government will also match voluntary industry contributions of up to £6 million (i.e., $9.7 million) over the next two years to its Skills Investment Fund.
Any developer that wants to benefit from the tax break will have to pass a cultural test when they begin in April 2013.
Karl Hilton at Crytek UK is happy.
[Via Gamasutra]
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Comments
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If we were able to hit a magical reset button we could easily implement a flat tax for EVERYONE. Nothing could be more fair.
A person paying 35% of their $150,000 income in taxes while a business pays 10% of their $15,000,000 after a crap ton of breaks and shady dealings is complete and utter bullshit. Meanwhile we're in debt up to our asses and the 35% people are being nailed for it on a constant bases while businesses get more and more tax breaks? Idiocy.
At any rate...LOL @ video games equaling "Europe's technology centre"
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please make this happen
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The problem is that the people getting the tax breaks aren't being monitored, so that they use it for what they are supposed to use it for(e.g. government and businesses)
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1. Many countries use flat tax and it works just fine. More then a handful of countries are currently proposing a flat tax system.
2. Most of the states in the US use flat tax for state taxes. It works just fine.
3. Sales tax (for the most part) are a flat tax. They simply vary by county a little.
Flat tax works just fine. It's our federal area that's screwed to hell with it's progressive rate crap.
Just because a few counties have driven themselves into the ground (Ukraine) and also happen to have adopted a flat tax doesn't mean the system doesn't work. It simply shows they drove themselves into the ground regardless.
Eastern Europe currently uses a flat tax system and is seeing a strong economic growth.
Need any more examples?
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