Spain Powers Up International Shoot Tax Breaks
The Spain Film Commission, has celebrated the improvement in tax incentives to attract international filming contemplated by the Royal Decree-Law of Measures for Culture approved on Tuesday, May 5 and which, in its opinion, «placed» the Spanish audiovisual sector «among the most competitive in the world.”
Tax measures, include an increase in the percentage of return to 30% of the first million of the deduction base and 25% of the remaining amount, are an «excellent improvement to attract international filming”.
«With this reform, Spain is positioned as a very competitive and profitable filming destination for the international industry and, among them, the North American one,” highlights the Spain Film Comission.
The president of the Spanish Film Commission, Carlos Rosado, requesting the adoption of this measure, which joins the announcement of the Minister of Culture to advance the formation of the “Spanish Audiovisual Hub” that «will attract even more attention for the Spanish audiovisual sector.”
In addition, the Spain Film Commission has pointed out that, although the restart of shoots with “strict safety and health measures» is authorized on 11 May, it notes that «as soon as international activity resumes and airspaces and markets are opened, following the agreement of the Spanish government, the country will be an attractive destination of great interest for our international partners.”
