{"id":1752,"date":"2015-01-27T13:41:55","date_gmt":"2015-01-27T12:41:55","guid":{"rendered":"http:\/\/www.webtenerife.co.uk\/blog\/?p=1752"},"modified":"2015-01-27T13:41:55","modified_gmt":"2015-01-27T12:41:55","slug":"new-tax-incentives-for-films-shot-in-the-canary-islands","status":"publish","type":"post","link":"https:\/\/www.webtenerife.co.uk\/blog\/2015\/01\/new-tax-incentives-for-films-shot-in-the-canary-islands\/","title":{"rendered":"New tax incentives for films shot in the Canary Islands"},"content":{"rendered":"

Foreign productions will benefit from up to 35% tax rebate<\/i> provided that at least one million Euros are spent in Spain.<\/p>\n

<\/p>\n

\"Coast\"<\/a><\/p>\n

The new Canaries Economic and Tax Regime (REF) came into effect on 1 January 2015 and it includes new\u00a0 tax breaks for productions shot on the islands. This strengthens Tenerife\u2019s position as a leading film location in Europe as it adds to the Island\u2019s excellent climate, natural conditions, wide range of sceneries and first-rate equipment and qualified experienced professionals who are ready to meet every need.<\/p>\n

 <\/p>\n

Canaries REF means that the rate of relief on business tax is 20 points higher than in the rest of Spain, where it is limited to 18% and 20% for national productions and 15% for foreign productions.<\/p>\n

 <\/p>\n

Spanish Productions<\/i><\/p>\n

 <\/p>\n

National productions shot in the Canaries will have 40% deduction on the first million Euros and 38% from the second million on, up to a total of 5.4 million Euros (this means deductible expenditure is capped at 14,078,947 \u20ac)<\/p>\n

 <\/p>\n

Foreign Productions<\/i><\/p>\n

\u00a0<\/i><\/p>\n

Foreign productions can also benefit from a 35% tax rebate with a maximum of 4.5 million Euros (the maximum deductible expenditure in this case is 12,857,143 \u20ac).\u00a0 A minimum of one million Euros must be spent on the Island in order to benefit from it.<\/p>\n

 <\/p>\n

Check complete law requirements to benefit from these incentives<\/i><\/p>\n

 <\/p>\n

TENERIFE FILM COMMISSION<\/p>\n

T. 00 34 647 34 64 62<\/p>\n

film@webtenerife.com<\/a><\/p>\n

www.tenerifefilm.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Foreign productions will benefit from up to 35% tax rebate provided that at least one million Euros are spent in Spain.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,44],"tags":[357,349,353,356,355,354],"class_list":["post-1752","post","type-post","status-publish","format-standard","hentry","category-miscellanium","category-news","tag-benefits","tag-film","tag-film-production","tag-movie","tag-shots","tag-tax-system"],"_links":{"self":[{"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1752"}],"version-history":[{"count":2,"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1752\/revisions"}],"predecessor-version":[{"id":1763,"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1752\/revisions\/1763"}],"wp:attachment":[{"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.webtenerife.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}