Investment in culture would increase if intangible assets were properly valued, including through revised accounting standards. Fiscal and other incentives such as loan guarantee schemes are also required, along with sector initiatives which share revenues and reward investment in new talent. 

Allowing a reduced VAT on cultural goods and services online and offline, as well as ending double taxation is also crucial, especially given the new “country of destination” VAT rules on digital products. Those benefitting economically from carrying cultural works must contribute financially to their creation.  

• Work on better valuation of copyright and other intangible assets. 
• Develop new international accounting standards. 
• Ensure all countries have at least one fiscal incentive, such as tax credits. 
• Promote sector schemes which reward investment in new talent (e.g. revenue sharing and other models). 
• Make sure the innovative loan guarantee instrument is applied in a way which is balanced across all cultural sectors. 
• End VAT discrimination between cultural products. 
• Apply reduced VAT for all cultural products and services offline and online to end confusion, boost Europe’s digital market and improve access to culture across Europe. 
• Allocate a fixed percentage of EU budgets the cultural and creative sectors – at least in line with our contribution to GDP.
• Examine how those who benefit economically from carrying creative works online should contribute financially to creation.
• Tackle double taxation and withholding tax problems, which create barriers to the mobility of artists and their works.  

Opportunities for members

beatBread launches $100m Global Independence Fund

beatBread has introduced the Global Independence Fund, a $100 million initiative designed to provide independent labels and distributors with flexible financial support. The fund offers capital against existing catalogues, advances for new artist signings, and additional discretionary funding, enabling labels to grow and compete effectively while maintaining control over day-to-day decisions. Additional benefits, including distribution opportunities and access to OpenPlay delivery technology, are available to labels that are also members of AIM, AIM Ireland, WIN, and IMPALA through their various member and friends programs.

For more information and to apply, visit beatBread’s page.