Jarre urges music tax cut

Books, film, legit, concert tickets already enjoy break

BRUSSELS — French artist and composer Jean Michel Jarre took the music industry’s campaign to cut taxes on sound recordings to the European Parliament Tuesday.

Jarre urged the Parliament’s key economic and monetary affairs committee to include sound recordings on a list of products that will benefit from reduced rates of value added tax.

He spoke on behalf of the VAT coalition, a campaign group of European music industry solons. At the hearing Jarre described the exclusion of sound recordings from the list of reduced rate articles as “cultural discrimination.” VAT on sound recordings is between 15% and 25% in European countries, while books, cinema, theater and concert tickets benefit from a reduction of around 5%.

Big backers

“Music is a vital part of our cultural life, and work by European artists epitomizes Europe’s cultural diversity,” he said. “It simply makes no sense that sound recordings are not eligible for the same reduced VAT rates as other cultural products.”

The campaign has the backing of over 1,300 European artists and composers including Andrea Bocelli, Elton John and Julio Iglesias.

The committee will advise European finance ministers who are due to make the final decision before the end of the year.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Marketplace

    Leave a Reply

    No Comments

    Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s

    More Music News from Variety

    Loading