TAX INCENTIVES
50 - 45% Tax incentives
Being a Canary Islands based company means that we are entitled to a 50-45% tax rebate on expenditure in Spain, capped at 36 million euros deduction for feature films and 18 million euros per episode for series (the maximum base of deduction is in 79.8 million euros for feature films). As a requirement, those productions must spend at least 1 million euros on eligible costs during shooting or 200.000 euros on animation, always in Spanish territory.
The overall spend in the Canaries must be at least 1 millon euros for live action, or 200,000 euros for animation
The minimum overall budget for the project must in any event be more than 2 millon euros.
The deduction base cannot exceed 80% of the total cost of the production.
The rebate, together with all other grants awarded to the same production. cannot exceed 50% of the overall production cost.
If the spend in the Canaries is above 1.8 millon euros, the percentage rebate will be 54% for the millon.
The international Producer must hire a service producer who is tax resident in the Canary Islands
It must be a documentary, series or feature film, whether live action or animation, intended for theatrical release, television or Video on Demand (VoD) channels, and classed as a foreign production.
Cultural test of the Spanish institute of Cinematography and Audiovisual Arts (ICAA)
The overall spend in the Canaries must be at least 1 millon euros for live action, or 200,000 euros for animation
The minimum overall budget for the project must in any event be more than 2 millon euros.
The rebate, together with all other grants awarded to the same production. cannot exceed 50% of the overall production cost.
The deduction base cannot exceed 80% of the total cost of the production.
If the spend in the Canaries is above 1.8 millon euros, the percentage rebate will be 54% for the millon.
The international Producer must hire a service producer who is tax resident in the Canary Islands
It must be a documentary, series or feature film, whether live action or animation, intended for theatrical release, television or Video on Demand (VoD) channels, and classed as a foreign production.
Cultural test of the Spanish institute of Cinematography and Audiovisual Arts (ICAA)
