La Palma can offer film producers mountains, valleys, jungles, coastlines and beaches as locations for future film projects, but can also offer film producers important tax advantages of up to 45%, which would save production costs.
This week, Alicia Vanoostende Simili, Tourism Minister of the Government of La Palma has been promoting the use of the island for film productions in a hotel in Madrid with the support of the Union of Actors and Actresses in Spain. At this presentation and exhibition, the Minister stressed the value of La Palma as a strategic location for cinema film production, the significant tax advantages that would save production costs, as well as these opportunities to promote the economy of the island in a unique way.
It was reported at this marketing event in Madrid that since the creation of the La Palma Film Commission three years ago, over 35 audio visual projects have been carried out on the island. The coordinator of La Palma Film Commission, Maria Jose Manso, is in charge of attracting and facilitating all potential filming projects.
Tax advantages for film productions are better than those offered in peninsular Spain with 25% for the first million euros and 20% for the rest of the filming budget for Spanish registered companies, and 20% for foreign registered companies.
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