Canary Islands Reform Tax Break Funding, as Archipelago Looks for Further Growth in Its Film-TV Hub
Annika Pham In a move to consolidate its bullishly expanding audiovisual industry, Spain’s Canary Islands have just scrapped a prior €50 million ($53.5 million) cap on total annual tax incentives tapped by movies and series shooting in the archipelago. Announced April 30, the ground-breaking measure was applauded by local industry heavyweights who have been lobbying national and regional authorities, “This couldn’t be better news for the Canarian audiovisual sector, and by extension, for the Spanish audiovisual sector,” said Rubén Zarauza, president of the Audiovisual Cluster of the Canary Islands, and co-head of Amuse Studios, the Spanish branch of France’s Amuse Animation group.