| Spain ICAA (Instituto de la Cinematografia y de las Arts Audio-visuales)
Ministerio de Cultura
Plaza del Rey No1 28071
Madrid,
SPAIN Tel: (34) 1 532 74 39
Fax: (34) 1 531 92 12 Many in the Spanish film industry have criticised the limited and commercially orientated support for Spanish films. In July 1999, the Secretary of State for Culture, Miguel Angel Cortes, attempted to offset this with a liberalisation on the import and export of films, increased subsidies for rural and small cinemas and greater support for TV films with the potential for cinema release. The funding system is operated through the Instituto de las Cinematografia y de las rtes Audiovisuales (ICAA) and offers subsidies to films that earn more than US$330,000 at the box office. The ICAA also make subsidies available to first and second time Spanish directors. Grants are occasionally given for script development, distribution and exhibition expense, and are considered on a project-by-project basis. In addition there are three main tax incentives: - Up to 25% of film production investments are deductible from corporate income tax.
- P&A expenses are 20% tax deductible when occurred through entering new markets or developing new products.
- Up to 5% (or up to 20% for non-Spanish holding companies) of the amount invested in fixed assets can be deducted from corporate income tax, up to 25% of the total tax charge.
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