Sunday, January 19, 2020

Rockstar Tax Report Suggests GTA 6 In Works

According to a new UK tax report, Grand Theft Auto 6 is currently under development at Rockstar North.

It goes without saying that developer/publisher Rockstar Games has made an insane amount of money from 2013 open-world crime adventure Grand Theft Auto V and fans are eagerly anticipating its sequel Grand Theft Auto VI to arrive soon.

After accusing Rockstar for dodging corporation tax for past 10 years in United Kingdom, a new tax returns report by same regulating company has revealed that they took a huge sum of tax relief lately in order to get GTA VI ready to release.

gta 6 hint rockstar games uk video games tax relief report development hmrc
Rockstar Tax Report Suggests GTA 6 In Works

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A recent report from TaxWatch UK reveals that Rockstar has filed for about 37% of overall video games industry claims in United Kingdom for 2018-2019 tax years, which is the largest grant amount for Video Games Tax Relief from HMRC.

According to that same report, this significant claim was approved for production of next GTA game and Rockstar North already reached out to British Film Institute for authorization of that project being "Culturally British" to get a tax relief.

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Overall claimed amount in Video Games Tax Relief by GTA developers are over $49.2 million, which is small a fraction of budget needed to develop GTA 6 compared to total production cost of $265 million for Grand Theft Auto 5.

In recent years, Western action-adventure title Red Dead Redemption 2 has been one of the most expensive games ever produced. Given their high quality standards, a sequel to GTA V would likely to cost that much if not more.

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Although government tax relief funds were originally intended for relatively small developers, a large company like Rockstar is clearly taking leverage over that regulation with several highest-grossing entertainment products under their belt.

Since their claimed numbers have drawn attention of tax community in UK, local government might want to take another good look at how those rules should be defined without causing a delay to release of next Grand Theft Auto title.

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Most recently, trusted insider and renowned YouTuber SWEGTA declared on social media that parent company and publisher Take-Two Interactive is currently planning to maintain frequent game release schedule from now on.

With Microsoft and Sony lining up launch window of their next-generation console hardware PlayStation 5 and Xbox Series X for later this year, Grand Theft Auto VI has every possibility of arriving sooner than expected by everyone.