{"id":2658,"date":"2024-09-26T12:07:10","date_gmt":"2024-09-26T10:07:10","guid":{"rendered":"https:\/\/www.canary-productions.com\/?page_id=2658"},"modified":"2026-03-23T12:15:15","modified_gmt":"2026-03-23T11:15:15","slug":"fiscal-incentives-for-productions","status":"publish","type":"page","link":"https:\/\/www.canary-productions.com\/en\/fiscal-incentives-for-productions\/","title":{"rendered":"Fiscal Incentives for Productions"},"content":{"rendered":"<section class=\"l-section wpb_row height_small\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><h1 class=\"w-text us_custom_ec6022c1\"><span class=\"w-text-h\"><span class=\"w-text-value\">Fiscal Incentives: The best in the world with up to 54% CASH REBATE &#038; 0 % VAT<\/span><\/span><\/h1><div class=\"w-separator size_small\"><\/div><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>In the Canary Islands we have a specific tax regime (REF) which allows us to offer international production companies much greater tax incentives than in the rest of Spain, making it the most powerful and effective production incentive in the world. You\u2019ll be able to pay back your bridge loan in up to 1 year maximum.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row us_custom_61c10053 height_small width_full\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_2 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_text_column us_custom_ecd3b896\"><div class=\"wpb_wrapper\"><h5 class=\"ult-responsive info-list-heading\" data-ultimate-target=\"#Info-list-wrap-4364 h3\" data-responsive-json-new=\"{\">54-45% deduction for foreign and Spanish productions (tax\/cash rebate)<\/h5>\n<ul>\n<li>We provide production services for foreign and Spanish films and series<\/li>\n<li>54% Tax deduction for the first million euros spent in the Canary Islands, and 45% thereafter.<\/li>\n<li>Minimum expenditure: EUR 1 million<\/li>\n<li>The Canary Islands Special Zone (ZEC), setting up companies in the Canary Islands at a reduced rate of 4% on Corporate Income Tax, which is compatible with the above mentioned tax reliefs<\/li>\n<li>36,000,000\u20ac QUOTA deduction maximum limit for feature films<\/li>\n<li>18,000,000\u20ac QUOTA deduction maximum limit per episode, for TV series<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container us_custom_d7b81545 hide_on_mobiles has_bg_color\"><div class=\"vc_column-inner\"><\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row us_custom_481d55a5 height_small width_full\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_2 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container us_custom_118b6e91 hide_on_mobiles has_bg_color\"><div class=\"vc_column-inner\"><\/div><\/div><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_text_column us_custom_ecd3b896\"><div class=\"wpb_wrapper\"><h5 class=\"ult-responsive info-list-heading\" data-ultimate-target=\"#Info-list-wrap-8873 h3\" data-responsive-json-new=\"{\">Eligible expenditure in the Canary Islands directly related to production<\/h5>\n<ul>\n<li>Creative team with residence in the European Community<\/li>\n<li>Spending on technical industries and other suppliers<\/li>\n<li>The local production or service company must be resident for tax purposes in the Canary Islands.<\/li>\n<li>The total cost of production will be at least EUR 2,000,000.<\/li>\n<li>Investments in feature film, TV series, animation, documentary and short film production<\/li>\n<li>54-45% tax credit for investments in Spanish productions and co-productions.<\/li>\n<li>Investments in the production of feature films, TV series, animation, documentaries and short films.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row us_custom_5383f681 height_small width_full\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>In addition, audiovisual works, except for advertising works, which are produced through a production service, can benefit from 0% IGIC.<br \/>\nIf you need more information, please do not hesitate to <a href=\"https:\/\/www.canary-productions.com\/en\/contact\/?lang=en\">contact <\/a>Tom Perry, our EP in the Spanish office.<\/p>\n<\/div><\/div><div class=\"w-separator size_small\"><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row height_medium\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container\"><div class=\"vc_column-inner\"><h4 class=\"w-text us_custom_59c9a240\"><span class=\"w-text-h\"><span class=\"w-text-value\">FAQ\u00b4s<\/span><\/span><\/h4><\/div><\/div><\/div><\/div><\/section><section class=\"l-section wpb_row us_custom_f78888c0 height_medium full_height valign_center\"><div class=\"l-section-h i-cf\"><div class=\"g-cols vc_row via_grid cols_1 laptops-cols_inherit tablets-cols_inherit mobiles-cols_1 valign_top type_default stacking_default\"><div class=\"wpb_column vc_column_container us_custom_4fb9e5a3 has_bg_color\"><div class=\"vc_column-inner\"><h3 class=\"w-text Tax incentive\" id=\"Tax incentive\"><span class=\"w-text-h\"><span class=\"w-text-value\">Canary Islands Film Tax Incentive \/ Rebate<\/span><\/span><\/h3><div class=\"w-tabs us_custom_3ffa9d4a style_default switch_click accordion type_togglable has_scrolling\" style=\"--sections-title-size:inherit\"><div class=\"w-tabs-sections titles-align_none icon_chevron cpos_right\"><div class=\"w-tabs-section active\" id=\"ddf1\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-ddf1\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">Which are the requirements for foreign production companies to benefit from the Canary Islands film incentive\/tax rebate?<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-ddf1\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>To benefit from the Canary Islands film tax incentive, foreign production companies typically need to:<\/p>\n<ul>\n<li><strong>Contract a Canary Islands Service Company:<\/strong>\u00a0Engage a service production company that is tax resident in the Canary Islands.<u><\/u><u><\/u>\u00a0This local company acts as the legal entity that incurs the eligible expenditure and generates the tax rebate.<u><\/u><u><\/u><u><\/u>\n<div>\u00a0<\/div>\n<\/li>\n<li><strong>Obtain a Cultural Certificate (ICAA):<\/strong>\u00a0The project must obtain a Cultural Certificate from the Institute of Cinematography and Audiovisual Arts (ICAA), Spain&#8217;s national film body.<u><\/u><u><\/u>\u00a0This involves meeting specific cultural and artistic criteria, often through a points-based system.<u><\/u><u><\/u><u><\/u>\n<div>\u00a0<\/div>\n<\/li>\n<li><strong>Obtain a Canarian Certificate:<\/strong>\u00a0Obtain the Canarian Certificate of Audiovisual Production, issued by the Canary Islands Government, confirming the project&#8217;s compliance with regional requirements.<u><\/u><u><\/u><u><\/u><u><\/u><u><\/u>\n<div>\u00a0<\/div>\n<\/li>\n<li><strong>Minimum Local Expenditure:<\/strong>\n<ul>\n<li>For live-action feature films and series: A minimum eligible expenditure of\u00a0<strong>\u20ac1,000,000<\/strong>\u00a0in the Canary Islands.<\/li>\n<li>For animation works: A minimum eligible expenditure of\u00a0<strong>\u20ac200,000<\/strong>\u00a0in the Canary Islands.<u><\/u><u><\/u><u><\/u><u><\/u><u><\/u>\n<div>\u00a0<\/div>\n<\/li>\n<\/ul>\n<\/li>\n<li><strong>Maximum Eligible Expenditure:<\/strong>\u00a0The eligible expenditure cannot exceed 80% of the total production cost of the work.<u><\/u><u><\/u><u><\/u><u><\/u><u><\/u>\n<div>\u00a0<\/div>\n<\/li>\n<li><strong>Minimum Overall Project Budget:<\/strong>\u00a0The global budget of the production must be at least\u00a0<strong>\u20ac2,000,000<\/strong>.<u><\/u><u><\/u><u><\/u><u><\/u><u><\/u>\n<div>\u00a0<\/div>\n<\/li>\n<li><strong>Credit Requirements:<\/strong>\u00a0Include specific acknowledgment of the tax incentive, the relevant Film Commission, Government\/Regional Government, and filming locatio<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section active\" id=\"hfdc\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-hfdc\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">In the qualification, can it be a 100% American film, for example, or does it have to have Spanish participation?<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-hfdc\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><div>\n<p>Yes, a 100% American film (or any other foreign production) can absolutely qualify for the Canary Islands tax rebate without requiring direct Spanish financial or creative participation in the traditional sense of a co-production. The incentive is specifically designed to attract international productions that utilise Spanish (and specifically Canarian) production services. While some &#8220;cultural points&#8221; for the ICAA certificate might be awarded for EU\/EEA crew or cast, the core eligibility for foreign productions hinges on engaging a Canarian service production company and incurring significant local expenditure.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section active\" id=\"f1e7\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-f1e7\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">What is the amount of the incentive\/tax rebate?<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-f1e7\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>The Canary Islands offer one of the most competitive film tax rebates in Europe:<\/p>\n<ul>\n<li><strong>50%<\/strong>\u00a0on the first \u20ac1,000,000 of eligible expenditure incurred in the Canary Islands.<\/li>\n<li><strong>45%<\/strong>\u00a0on the remaining eligible expenditure incurred in the Canary Islands.<\/li>\n<li>This percentage can increase to\u00a0<strong>54%<\/strong>\u00a0on the first \u20ac1,000,000 of eligible expenditure if the total eligible spend in the Canary Islands exceeds \u20ac1,900,000.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section active\" id=\"v42f\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-v42f\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">Is there a minimum and a maximum budget to obtain the incentives\/tax rebate?<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-v42f\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>Yes, there are specific budget thresholds:<\/p>\n<ul>\n<li><strong>Minimum overall production budget:<\/strong>\u00a0The global budget of the production must be at least\u00a0<strong>\u20ac2,000,000<\/strong>.<\/li>\n<li><strong>Minimum eligible expenditure in the Canary Islands:<\/strong>\n<ul>\n<li><strong>\u20ac1,000,000<\/strong>\u00a0for live-action feature films and series.<\/li>\n<li><strong>\u20ac200,000<\/strong> for animation works.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Maximum tax rebate amount per project:<\/strong>\n<ul>\n<li>Up to\u00a0<strong>\u20ac36,000,000<\/strong>\u00a0for feature films.<\/li>\n<li>Up to\u00a0<strong>\u20ac18,000,000<\/strong>\u00a0per episode for series.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section active\" id=\"e5e8\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-e5e8\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">Is there a maximum amount of money per year that the Cabildo of the Canary Islands can allocate to cinema?<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-e5e8\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p><strong>No, there is generally no longer an annual cap<\/strong>\u00a0on the total amount of tax incentives that can be granted across all projects. This is a significant advantage that allows the Canary Islands to attract and accommodate numerous and larger budget productions without being limited by an overall annual ceiling on the incentive pool. The incentive is demand-driven based on qualifying expenditure.<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section active\" id=\"y83a\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-y83a\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">Besides the incentive\/tax rebate, does filming in the Canary Islands have any other tax advantages (VAT, etc.)?<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-y83a\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"wpb_text_column\"><div class=\"wpb_wrapper\"><p>Yes, the Canary Islands benefit from a unique economic and fiscal regime (REF &#8211;\u00a0<em>R\u00e9gimen Econ\u00f3mico y Fiscal<\/em>) within Spain, which offers several additional tax advantages:<\/p>\n<ul>\n<li><strong>IGIC (Canary Islands General Indirect Tax) instead of VAT:<\/strong>\u00a0The Canary Islands have their own indirect tax, IGIC, which typically has a standard rate of 7%, significantly lower than mainland Spain&#8217;s VAT (which is 21%).<u><\/u><u><\/u>\u00a0For most audiovisual production services (excluding commercials), a\u00a0<strong>0% IGIC rate<\/strong> can apply, subject to prior authorization from the Canarian Tax Authorities.<u><\/u><u><\/u><u><\/u><\/li>\n<li><strong>Canary Islands Special Zone (ZEC &#8211;\u00a0<em>Zona Especial Canaria<\/em>):<\/strong>\u00a0Companies established within the ZEC framework can benefit from a reduced Corporate Income Tax rate of\u00a0<strong>4%<\/strong> (compared to the general Spanish rate of 25%), provided they meet specific investment and job creation requirements.<u><\/u><u><\/u><u><\/u><\/li>\n<li><strong>Reserve for Investments in the Canary Islands (RIC &#8211;\u00a0<em>Reserva para Inversiones en Canarias<\/em>):<\/strong>\u00a0This allows companies to reduce their Corporate Income Tax base by up to 90% of undistributed profits, provided these profits are reinvested in certain assets in the Canary Islands.<\/li>\n<li><strong>Social Security Bonuses:<\/strong>\u00a0Potential benefits and reductions on social security contributions for hiring local personnel.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><div class=\"w-tabs-section active\" id=\"rabb\"><button class=\"w-tabs-section-header active\" aria-controls=\"content-rabb\" aria-expanded=\"true\"><div class=\"w-tabs-section-title\">What are the main differences between service with a Canarian production company and co-production with a Canarian production company? so that you can see as international producers, which you are more interested in.<\/div><div class=\"w-tabs-section-control\"><\/div><\/button><div  class=\"w-tabs-section-content us_custom_3ffa9d4a\" id=\"content-rabb\"><div class=\"w-tabs-section-content-h i-cf\"><div class=\"w-html\"><style>\n.ci-film-table {\n  width: 100%;\n  border-collapse: collapse;\n  margin: 1.5em 0;\n  font-family: Arial, sans-serif;\n  font-size: 15px;\n}\n.ci-film-table th,\n.ci-film-table td {\n  border: 1px solid #ddd;\n  padding: 12px 15px;\n  vertical-align: top;\n}\n.ci-film-table th {\n  background: #003366;\n  color: #fff;\n  text-align: left;\n}\n.ci-film-table tr:nth-child(even) {\n  background: #f9f9f9;\n}\n.ci-film-table tr:hover {\n  background: #eef6ff;\n}\n.ci-film-table td strong {\n  color: #000;\n}\n\n\/* --- Responsive --- *\/\n@media screen and (max-width: 768px) {\n  .ci-film-table,\n  .ci-film-table thead,\n  .ci-film-table tbody,\n  .ci-film-table th,\n  .ci-film-table td,\n  .ci-film-table tr {\n    display: block;\n    width: 100%;\n  }\n  .ci-film-table thead {\n    display: none;\n  }\n  .ci-film-table tr {\n    margin-bottom: 1.5em;\n    border: 1px solid #ddd;\n    border-radius: 10px;\n    overflow: hidden;\n    box-shadow: 0 2px 6px rgba(0,0,0,0.1);\n    background: #fff;\n  }\n  .ci-film-table td {\n    border: none;\n    border-bottom: 1px solid #eee;\n    position: relative;\n    padding: 10px 15px 10px 45%;\n    text-align: left;\n  }\n  .ci-film-table td:last-child {\n    border-bottom: none;\n  }\n  .ci-film-table td:before {\n    content: attr(data-label);\n    position: absolute;\n    left: 15px;\n    top: 10px;\n    font-weight: bold;\n    color: #003366;\n    width: 40%;\n    white-space: normal;\n  }\n}\n<\/style>\n\n<h3>Canary Islands Film Production Models: Service vs. Co-production<\/h3>\n<p>\nThis chart outlines the key differences between two common ways international producers can work with Canarian companies to benefit from the film incentive. Most international producers find the \"Service Production\" model to be the most advantageous for accessing the tax rebate efficiently while retaining creative control.\n<\/p>\n\n<table class=\"ci-film-table\">\n<tbody>\n<tr>\n<td data-label=\"\"><\/td>\n<td data-label=\"Service\/Foreign Production with a Canarian Company (Most Common for International Producers), Article 36.2\"><strong>Service\/Foreign Production with a Canarian Company (Most Common for International Producers), <\/strong>Article 36.2<\/td>\n<td data-label=\"Co-production with a Canarian Company (Less Common for Pure Incentive Access), Article 36.1\"><strong>Co-production with a Canarian Company (Less Common for Pure Incentive Access), <\/strong>Article 36.1<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Model Type\"><strong>Model Type<\/strong><\/td>\n<td data-label=\"Service\">The foreign production company <strong>hires<\/strong> a local Canarian company as a service provider.<\/td>\n<td data-label=\"Co-production\">A <strong>formal partnership<\/strong> (financial and\/or creative) is formed between foreign and Canarian companies.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Legal Status\"><strong>Legal Status<\/strong><\/td>\n<td data-label=\"Service\">The Canarian company acts as a <strong>local vendor or contractor<\/strong> for the foreign producer. It's the entity that incurs eligible expenses.<\/td>\n<td data-label=\"Co-production\">Both companies are legally involved in the project's <strong>ownership and execution<\/strong>, often sharing intellectual property.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Project Control\"><strong>Project Control<\/strong><\/td>\n<td data-label=\"Service\"><strong>Full creative and financial control<\/strong> typically remains with the international producer. The Canarian company executes the production plan.<\/td>\n<td data-label=\"Co-production\"><strong>Shared creative and financial control<\/strong>, as defined by the co-production agreement and subject to international treaties.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Tax Incentive Access\"><strong>Tax Incentive Access<\/strong><\/td>\n<td data-label=\"Service\">The Canarian service company generates the tax rebate based on its local expenditure, which is then <strong>passed on<\/strong> to the foreign producer via contractual agreement.<\/td>\n<td data-label=\"Co-production\">Each co-producer benefits from the tax deduction\/rebate based on their percentage of participation and eligible expenses.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Spanish Nationality\"><strong>Spanish Nationality<\/strong><\/td>\n<td data-label=\"Service\">The film generally <strong>does not acquire Spanish nationality<\/strong> unless specifically desired or required for other reasons (e.g., national funds).<\/td>\n<td data-label=\"Co-production\">The film typically <strong>acquires Spanish nationality<\/strong>, which may open doors to additional national grants but adds complexity.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Complexity\"><strong>Complexity<\/strong><\/td>\n<td data-label=\"Service\">Generally <strong>simpler<\/strong> legally and administratively, as it's a client-service provider relationship.<\/td>\n<td data-label=\"Co-production\">More <strong>complex<\/strong> legal and financial structures, requiring adherence to co-production treaties and cultural criteria.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Risk &amp; Ownership\"><strong>Risk &amp; Ownership<\/strong><\/td>\n<td data-label=\"Service\">The international producer retains primary risk and ownership of the film.<\/td>\n<td data-label=\"Co-production\">Risk and ownership are <strong>shared<\/strong> according to the co-production agreement.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Foreign Producer Interest\"><strong>Foreign Producer Interest<\/strong><\/td>\n<td data-label=\"Service\"><strong>High<\/strong> \u2013 Preferred for maximizing the tax rebate with minimal operational and creative interference.<\/td>\n<td data-label=\"Co-production\"><strong>Lower<\/strong> \u2013 Chosen when creative collaboration, shared risk, or access to national Spanish funds are primary objectives beyond just the tax rebate.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Tax Rebate Amount\"><strong>Tax Rebate Amount<\/strong><\/td>\n<td data-label=\"Service\"><strong>50%<\/strong> on the first \u20ac1,000,000 of eligible local spend. <strong>45%<\/strong> on the remaining eligible local spend. Can increase to <strong>54%<\/strong> on the first \u20ac1,000,000 if local spend exceeds \u20ac1,900,000.<\/td>\n<td data-label=\"Co-production\"><strong>50%<\/strong> on the first \u20ac1,000,000 of the Spanish co-producer's eligible investment. <strong>45%<\/strong> on the remaining eligible investment. Can also reach <strong>54%<\/strong> on the first \u20ac1,000,000 under specific conditions.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Minimum Overall Budget\"><strong>Minimum Overall Budget<\/strong><\/td>\n<td data-label=\"Service\"><strong>\u20ac2,000,000<\/strong> for the total global production budget.<\/td>\n<td data-label=\"Co-production\"><strong>No specific minimum overall budget required<\/strong><\/td>\n<\/tr>\n<tr>\n<td data-label=\"Minimum Eligible Local Spend\"><strong>Minimum Eligible Local Spend<\/strong><\/td>\n<td data-label=\"Service\"><strong>\u20ac1,000,000<\/strong> for live-action feature films\/series in the Canary Islands. <strong>\u20ac200,000<\/strong> for animation works in the Canary Islands.<\/td>\n<td data-label=\"Co-production\"><strong>No specific minimum eligible expenditure.<\/strong>\nAt least <strong>50% of the deduction base<\/strong> (eligible expenditure) must correspond to expenses incurred in Spanish\/Canary territory.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Maximum Tax Rebate Amount\"><strong>Maximum Tax Rebate Amount<\/strong><\/td>\n<td data-label=\"Service\">Up to <strong>\u20ac36,000,000<\/strong> for feature films. Up to <strong>\u20ac18,000,000<\/strong> per episode for series.<\/td>\n<td data-label=\"Co-production\">Up to <strong>\u20ac36,000,000<\/strong> for feature films. Up to <strong>\u20ac18,000,000<\/strong> per episode for series.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Maximum Eligible Spend (% of Total)\"><strong>Maximum Eligible Spend (% of Total)<\/strong><\/td>\n<td data-label=\"Service\">Eligible expenditure <strong>cannot exceed 80%<\/strong> of the total production cost.<\/td>\n<td data-label=\"Co-production\">Eligible expenditure <strong>cannot exceed 80%<\/strong> of the total production cost <b>for the Spanish part<\/b>.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Canarian Co-producer Minimum Financial Contribution\"><strong>Canarian Co-producer Minimum Financial Contribution<\/strong><\/td>\n<td data-label=\"Service\"><strong>N\/A<\/strong> (not applicable, as it's a service agreement).<\/td>\n<td data-label=\"Co-production\">For financial co-productions, the Canarian co-producer's contribution must be <strong>no less than 10% and no more than 25%<\/strong> of the production cost. For general co-productions, the contribution must exceed 20%.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Financial Terms\"><strong>Financial Terms<\/strong><\/td>\n<td data-label=\"Service\"><strong>Clear fee structure for services.<\/strong> The international producer pays the Canarian company for its services, and the rebate is then factored into this payment or transferred separately. <strong>No direct financial investment from the international producer into the Canarian company's capital.<\/strong><\/td>\n<td data-label=\"Co-production\"><strong>Direct financial contribution<\/strong> from both co-producers to the project's budget. Profits (if any) and losses are <strong>shared<\/strong> according to participation percentages. <strong>Requires audited accounts for each co-producer<\/strong> to verify their respective contributions.<\/td>\n<\/tr>\n<tr>\n<td data-label=\"Funding Structure\"><strong>Funding Structure<\/strong><\/td>\n<td data-label=\"Service\">Primarily driven by the foreign producer's financing, with the tax rebate reducing the overall local expenditure cost.<\/td>\n<td data-label=\"Co-production\">Often involves <strong>shared financing efforts<\/strong> from both co-producers. Each co-producer may seek funding from their respective national and regional sources (e.g., Canary\/Spanish co-producer might apply for regional and national grants, which a service production cannot).<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Fiscal Incentives: The best in the world with up to 54% CASH REBATE &#038; 0 % VATIn the Canary Islands we have a specific tax regime (REF) which allows us to offer international production companies much greater tax incentives than in the rest of Spain, making it the most powerful and effective production incentive in...","protected":false},"author":1,"featured_media":5750,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_joinchat":[],"footnotes":""},"class_list":["post-2658","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is 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