Spain presents attractive new tax incentives for film shoots at Cannes
- On Wednesday 24 June, the Cinema From Spain virtual pavilion will host a meeting where professionals will break down Spain’s recently approved tax breaks, which now stand at 50%
Elena Manrique, a seasoned executive producer who has worked at companies such as Vértigo Films, will serve as the moderator of a talk entitled “Shooting in Spain. Your Tax Rebate MATE (up to 50%)”, which will take place in the ICAA’s virtual pavilion, hosted on the website of the Cannes 2020 Marché du Film (click here to visit it). At 5 pm (Madrid time) on Wednesday 24 June, she will chat to professionals who will break down the advantages of shooting in Spain, where a recent legislative decree has increased the tax incentives for investments in film and TV productions. The percentage of the deduction for all shoots, both national and international, has risen by 5%, jumping from 25% to 30% for the first million euros invested, and from 20% to 25% starting from the second million euros invested, up to a deductible limit of €10 million. On the Canary Islands, the percentage of the new tax incentive is fixed at 50% to 45%, and the minimum deductible investment for animated works is €200,000 (it previously stood at €1 million).
In order to analyse the different tax breaks from various perspectives – co-production, services, post-production, visual effects, locations, attractiveness of shoots and animation – Manrique will chat with a clutch of prestigious professionals from the sector, such as producer Adrián Guerra (of Nostromo Pictures), Gonzalo Carrión (from visual effects company El Ranchito, which has been involved in smash hits such as the series Game of Thrones) and Nathalie Martínez, a producer at Wise Blue Studios (Animal Crackers [+see also:
film profile]). In addition, Teresa Azcona will talk about the attractiveness of shoots and filming locations in her capacity as vice-president of the Spain Film Commission, and Natacha Mora (coordinator at Canary Islands Film) will explain the incentives that are applicable on the Canary Islands (visit the Facebook page for the event here).
On the other hand, at 5 pm today, 23 June, the very same ICAA virtual pavilion will play host to the talk “Cinema From Spain. Fresh From Our Sales Agents… With Talent!”, where sales agents, filmmakers, actors and actresses will present the movies The August Virgin [+see also:
interview: Jonás Trueba
film profile] by Jonás Trueba, starring Itsaso Arana (both of whom will take part in this live event to discuss the film handled by Bendita Films Sales); The People Upstairs by Cesc Gay (who will be accompanied by actor Javier Cámara, from this film adaptation of Gay’s successful stage play, sold by Filmax); Historias del confinamiento (which is sold by Latido Films, and was directed from home by David Marqués, Fernando Colomo, Álvaro Fernández Armero, Miguel Bardem and a newcomer to such duties, Juan Diego Botto); and The Offering (represented by sales agent Moonrise Pictures), a psychological drama by Ventura Durall, starring Àlex Brendemühl (click here to visit the Facebook event).
Lastly, it is worth highlighting the fact that at this edition of the Marché du Film, the ICEX – in conjunction with the ICAA – is providing potential purveyors of Spanish film with an exclusive room to host films that are taking part in Cannes 2020: it is available on the virtual market’s own platform and allows visits from buyers, with nearly 25 screenings of 16 movies, including a sidebar for Catalan flicks appropriately entitled “Upcoming Catalan Films”. The latter includes features such as Cross the Line by David Victori, La vampira de Barcelona by Lluís Danés (see the news), All the Moons by Igor Legarreta (see the news – all three of which have Filmax on board as a sales agent), A Perfect Enemy by Kike Maíllo (Paris-based Pulsar Content is the sales agent for this adaptation of The Enemy’s Cosmetique by Amélie Nothomb) and the animated flick Josep [+see also:
film profile] by Aurel (handled by The Party Film Sales), among others.
(Translated from Spanish)
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