TIGA Publishes Brexit: Priorities for the Video Game Industry
The news of the United Kingdom's vote to exit the European Union (EU) shocked the world nearly a month ago. The referendum is likely to impact many industries, one of them being video gaming. As such, TIGA, the trade association which represents the gaming industry, has published a 20-page report entitled Brexit: Priorities for the Video Game Industry.
TIGA CEO Dr. Richard Wilson commented on the report:
“TIGA’s Report sets out a practical, pragmatic and positive agenda for ensuring the UK games sector is a leading player in an industry that is predicted to be worth almost $100 billion by 2018. If the UK creates a favourable tax environment with an enhanced Games Tax Relief and R&D Tax Credit, increases availability of finance and improves access to talent, then the UK video games industry has everything to play for.”
The report features several suggestions for the UK, including:
- Reducing the rate of corporation tax to 17 percent in 2017
- Introducing a Video Games Investment Fund to enable more studios to grow
- Negotiating an EU-wide measure to exempt small businesses from European Union Added Value Tax (EU AVT) regulations