By Emiliano De Pablos Spain’s big shoots industry is putting the pedal to the metal, propelled by an encouraging improvement in tax breaks for international productions.
The moves aim to make Spain more attractive for big-budget projects, helping the sector look beyond COVID-19 crisis. Approved May 5, the new measures increase tax rebates for international shoots from 25% to 30% for the first €1 million ($1.1 million) spend in Spain and cap a shoot’s total tax deduction at $10.8 million, up from $3.28 million.
It remains to be seen if the Canary Islands will continue to offer tax rebates 20 percentage points above rates for Spain’s mainland.
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