Tax breaks could woo Hollywood back to Spain

    LAST UPDATED: 11 Jul, 2014 @ 13:17
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    Tax breaks could woo Hollywood back to Spain

    HOLLYWOOD moguls are being enticed back to Spain as the government considers attractive new tax breaks for movie makers.

    In the last 10 years, the Spanish mainland has lost out on 80% of the potential blockbuster movie action due to the lack of an enticing tax regime.

    But the government contemplates boosting tax incentives from the current 18% to 30% for filmmakers who choose Spain as a location.

    “I cannot see any good reason, not even the crisis, for the government not to invest in this,” said Carlos Rosado, President of the Spain Film Commission. “A film shoot is a very significant source of revenue and money is being lost by the bucketful.”

    The Canary Islands have become the new favourite set for big-budget films since introducing a 38% tax break in 2009. Wrath of the Titans (2011), Fast & Furious 6 (2013) and Ridley Scott’s Exodus (2013) were all shot on the islands.

    Penelope Cruz is set to hit the Canaries too, along with 13 new film and television projects lined up by the Gran Canaria Film Commission for 2014.

    HBO series Game of Thrones originally considered Spain as the location for season one, but ultimately settled on Malta and Ireland.

    The latest decision to shoot scenes for series five in Sevilla’s Alcazar could be the start of something big.

     

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    1. Be even nicer to have some tax breaks for the millions of self employed small business owners in Spain who are struggling to make ends meet. Half the social security payments and I employ 2 more staff at current rates can’t afford to and I am short staffed with a busy business, 1000 in same situation

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