Iceta advocates audiovisual tax cuts after a change that elevates them

Minister of Culture, Michael Iceta, defended this thursday To apply financial benefits multinational companies can compete and “to be at the forefront of the world” in line with the change that increased the maximum tax reduction from 10 million to 20 million in audio-visual productions.

When asked during an informative breakfast, Iceta replied: Improvement of tax breaks for audio-visual production introduced in Congress last week by the socialist group and Unidas Podemos An additional provision to the law regulates temporary taxes on banks and energy companies.

text, what change corporate tax law, It increases the maximum tax deduction for audiovisual productions from 10 to 20 million euros, and in the case of series, keeps it at 10 million per episode instead of a season.

Tax deduction percentage stays at el 30% up to the first million euro deposited and 25% of this amount, for the expenses of both Spanish audio-visual productions (feature films, short films and serials) and foreign productions made on Spanish territory. Changed limits affect both types of production equally.

“Sometimes we talk about multinational companies. If you were locked in an office with Elon Musk, No, no, they are recruiting staff from our country and they want us to make more efforts to train technicians, because employment in these categories is very high right now,” he said.

Stating that he was unaware of the details of the change, the minister said, “It is impossible to find the perfect balance, but “It’s great to live in a country that is also a base for multinational companies and Spanish companies competing around the world,” he said.

Iceta, Prime Minister Pedro SánchezTeamed up with audiovisual multinational companies in the United States “To convince them that they are welcome here” and “I must say they are happy,” he added.

was also emphasized. Netflix there’s a Spanish woman all over the world alluding to María Ferreras, Last Tuesday, the Head of Business Development of the American company inaugurated the expansion of the production center in Madrid.

As explained to EFE by the Ministry of Economy spokesperson, tax incentives try to be “heinous” to attract foreign audio-visual productions to Spain It is part of the Audiovisual Sector Incentive Plan submitted by the Government in March 2021 under the Economy Recovery, Transformation and Resilience Plan.

Source: Informacion

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