TAX NEWS - June 2010

Games tax relief will promote export-led economy, says TIGA

Trade association TIGA has called on the government to introduce games tax relief as part of a planned move towards a more export-driven economy.

Dr Richard Wilson, chief executive officer of TIGA, has backed the conclusion of a new research report entitled The UK Video Games Industry: An Export Success Story, which underlines the ways in which the sector is positioned to capitalise on overseas sales.

The TIGA head suggested this makes the industry ideally placed to fit in with the government's plan to refocus the UK economy towards high-tech, skill-based and export-focused industries.

Dr Wilson stated that the introduction of games tax relief measures in the forthcoming budget will play a key part in this.

He explained: "Games tax relief will more than pay for itself. TIGA's research shows that over a five year period it will generate £415 million in tax receipts for HM Treasury."

This comes after the body last week met with MPs to put forward the case for games tax relief in person, with representatives from publisher Activision also present.