How to Tap Into Spain’s Soaring Shoot Incentives
variety.comEmiliano De Pablos Spain has a long tradition of big international shoots. More recently, there’s been a production renaissance: “Wrath of the Titans,” “Game of Thrones,” “House of the Dragon” and “Vampire Academy,” among many others, have chosen Spain.
One key driver is tax incentives. Tax breaks were raised in March 2020 when the government established a new rate for Spain’s mainland of a 25%-30% deduction on spend for both rebates on international shoots and credits for Spanish co-productions.
No less important, the incentive cap per shoot was raised from €3 million ($3 million) to $10.1 million. The minimum production budget to trigger incentives was set at $2.02 million; a $1.01 million minimum expenditure in Spain qualifies a shoot for incentives.
At the same time, the Canary Islands established a 50% tax rebate, with a $19.4 million ceiling. Navarre, with its own taxation, offers a 35% fiscal credit, requiring a minimum lensing time in the region and allowing a $5.4 million maximum tax deduction.
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