The Treasury leaves television contests out of tax incentives for filming

by archynewsy
0 comment

Los television contests They will not finally be able to adhere to the tax incentives to attract filming and productions in the audiovisual sector to Spain that the Government launched last year. The exclusion of this type of content has generated some misunderstandingsince, at the end of the day, they represent an investment just like a shoot of another type such as a series or television, according to industry sources, but It is the only mole of a measure that is already generating a tractor effect in the audiovisual investments that arrive in the country.

The measure promoted by PSOE and Podemos came into force in January 2023 unstopped tax deductions for foreign serieswhich went from a limit of 10 million euros per season to the same limit, but calculated per episode, which increases the maximum amount to be deducted for large productions.

In recent years, Spain has positioned itself as a reference country in attracting blockbuster filming, such as Game of Thrones and its sequel TheDragon House, as well as films by directors such as Wes Anderson. According to government data, Spain is the second European hub in production of audiovisual formats for platforms and conventional television and the third in feature films. However, the fight to become the European home of Hollywood is fierce and Countries like Ireland and Hungary have a large audiovisual industry and a long history of attracting blockbusters..

Hence, the importance given in the sector to the General Directorate of Taxes, dependent on the Ministry of Finance, quickly resolving the interpretation doubts generated by the text endorsed in the Congress of Deputies in order to generate legal security for the investors. And, on this occasion, The Administration has acted diligently and in terms interpreted as favorable for those who advise these large companies of the audiovisual sector with broad interests in Spain, such as the giants of the streaming.

The partner responsible for the Intellectual Property and Information and Communications Technologies area of ​​Baker McKenzieJosé María Méndezemphasizes, for example, one of these favorable interpretations and that is that producers will be able deduct expenses incurred in 2022 (before the entry into force of the aid), as long as they were focused on works whose filming has occurred or is expected to occur in 2023.

Related Posts

Leave a Comment