Spain attracts film makers after Government increased tax breaks

Money Heist a global phenomenon Credit: Netflix

ALERT to the fact that it needed to try to replace some of the income lost from tourism, in May of last year the Spanish Government introduced new tax breaks for foreign film producers.

With a relatively strong understanding of the techniques of film making here in Spain, there are plenty of technicians and locations which make it attractive to film around Spain and film makers are very aware of the fact that there are an estimated 450 million Spanish speakers around the world.

Now, despite the lockdowns and state of alarm, foreign producers are attracted by the increased cap on tax credits and the fact that rebates for local spending have risen from €3.28 million to €10.8 million.

Netflix has been an important purchaser of Spanish language films and TV series and not only supplies it Spanish speaking outlets but also dubs into other languages hence the worldwide popularity of creations such as Money Heist now in its fifth season.

Almost every region in Spain is trying to attract film makers and the Canary Islands with a somewhat different tax regime has enticed big names like Apple TV and HBO to its shores.

Whilst movies won’t replace tourism, the industry is certainly helping to plug part of the hole in the economy.

Thank you for taking the time to read this news article “Spain attracts film makers after Government increased tax breaks”.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

Comments


    Leave a comment

    Your email address will not be published.