Arguably, no other established Spanish film and TV industry has grown faster over the last decade than its service sector for international shoots. Some of the world’s most favorable tax incentives have helped propel business to historic heights.
Kicking off in 2015, tax regs rose muscularly during mid-pandemic in 2020. But in December, the Spanish government took it up another notch, establishing tax advantages for international productions of up to €20 million ($22.2 million) per movie and $11.1 million for a TV series episode. That increase went into effect Jan. 1.
With a special tax regime, the Canary Islands’ ceiling is $40.0 million for a film