Guillaume de Fondaumière, Chairman of the EGDF comments on the Tax breaks

By March 23, 2012 TIGA News

Helsinki, 21/03/2012:

After years of intense discussions, the UK Chancellor
George

Osborne today announced the UK
games development sector would benefit from similar

tax break measures that benefit the
film industry.

“Representing roughly 40% of Europe’s
development sector, The UK is Europe’s main

hub for video game creation,
commented Guillaume de Fondaumière, Chairman of the

EGDF.

If you consider the pace at
which studios were closing down and talents relocating

outside of Europe in the past few
years, I think it is not exaggerated to say the UK

games sector was facing a tangible
risk of collapsing.

This would have provoked in turn
the fall down of the entire European development

sector. With this in mind, I think
today is indeed an important day not only for the UK,

but for Europe as whole.

Provided the DG competition
confirms games can indeed continue to benefit from such

sector specific measures – a
decision that we now expect early April -, the UK would be

the second country in Europe to
implement tax breaks for video games after France.

I’m

convinced that other EU countries
will now follow the move, creating a true dynamic that

will propel Europe back to the top.
Only together can we beat tax heavens such as

Canada.

I would like to congratulate Richard
Wilson and TIGA for this much deserved success,

which has come after years of hard
work”.

Guillaume de Fondaumiere
Co- CEO, Exec Producer – Quantic Dream S.A




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