TAX NEWS - 2010

TIGA Speaks Out On Tax Break Issue

Story coming from Develop that an un-named publisher had allegedly 'sabotaged' the UK Tax Breaks for the game developers has today seen comment from TIGA, the trade association representing the UK games industry.

Dr Richard Wilson, CEO of TIGA, said that the story "confirms two essential truths," stating that "only TIGA has the unity of purpose, the determination and the ability to deliver Games Tax Relief. I call on all games developers and publishers to unite with TIGA, to support our campaign with action and resources and to win the battle for Games Tax Relief."

"This is not the time to look for scapegoats in the industry," he said. "This is the time to convince the Conservative Party and the Liberal Democrats – both of whom promised to introduce video Games Tax Relief before the General Election on May 7th – to renew their commitment to implement this crucial fiscal measure at the earliest opportunity."

Wilson added that the UK games industry needs Games Tax Relief to "put us on a level playing field against games businesses in other jurisdictions, which currently benefit from significant tax breaks."

"The UK Government needs Games Tax Relief because it will generate vital revenue for the Exchequer," he continued. "The UK economy needs Games Tax Relief because it will help to create high skilled, well paid jobs in high technology, export oriented businesses across the UK."

TIGA's initial research shows that Games Tax Relief would protect or create 3,550 graduate level jobs, secure £457 million in investment and enhance innovation in the sector according to the organisation. "Games Tax Relief would more than pay for itself", it says, "generating £415 million in tax receipts for HM Treasury."