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16|06|2020

Increase in tax incentives for international film shoots in Spain

As set forth in Real Decreto-ley (Royal Decree-Law) 17/2020, of 5 May, there has been an increase in tax incentives for international film shoots in Spain. This is one of the tax-related measures taken to support the cultural sector to mitigate the economic and social impact of Covid-19.

The tax deduction corresponding to production companies (entered in the ICAA's Administrative Register of Cinematographic Companies) charged with executing a foreign film will increase to 30% for the first million euros and to 25% for the rest of the expenditure incurred in Spain. The maximum amount of this deduction is also increased from three to ten million euros for each production. This will mean that a significant proportion of a movie or several episodes of a foreign series may be filmed in Spain.

Additionally, the minimum expenditure required to be eligible for the deduction is reduced from one million to 200,000 for preproduction and postproduction costs in the case of animation and visual effects created in Spanish territory.

With regard to the Canary Islands, the incentives are further increased to as much as 50%, making it now the most favorable region in the world for shooting movies in terms of tax incentives.

With this reform, Spain positions itself as a highly competitive and profitable location for the international industry.
 

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Last updated: 25|06|2020

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