Spain Becomes Big Shoot Haven, Ramping Up Standout Incentives
variety.comEmiliano De Pablos Spain has proved ever more successful in luring some of the biggest movies and series, and although 2020 saw a large rise in tax breaks, the big hike came in December.
New record tax advantages raised relief for international productions to up to €20 million ($21.4 million) per movie and $10.7 million for any single series episode.
In the Canary Islands — operating a special tax regime — the film tax break ceiling is now an extraordinary $38.6 million, one of the highest in Europe.
Effective Jan. 1, deduction rates for foreign productions are set at 30% for the first $1.1 million of deductible expenses and 25% for the rest in the Peninsula, and 50%- 45% in the Canaries. “The hike has solved a problem that prevented the capture of big productions,” says Carlos Rosado, president of the Spain Film Commission, a network of 41 film commissions and offices. “The measures will undoubtedly serve to attract larger-scale projects,” adds Fernando Victoria de Lecea, president of producers association Profilm. “Tax incentives are no longer a problem in Spain.
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