Production Spend Quadruples in Spain’s Bilbao-Bizkaia as Tax Credits Kick In
variety.comJohn Hopewell Chief International Correspondent The incontrovertible and immediate effect of muscular tax credits, entering in force in 2023, have powered to a new level the shoot scene in Bilbao and Bizkaia – the Basque city and surrounding province in Northern Spain.
Introduced on Jan. 1, 2023, the new incentives offer an up-to-60% tax deduction for national and international co-productions of film and TV projects.
Enticing studios such as Toboggan and production houses Buendía Estudios and Tornasol to set up in Bizkaia and streaming giant Netflix to invest in original productions, the territory is fast capitalizing on its breaks.
Over 2023, 151 shoots filmed in Bilbao-Bizkaia, 76 from the Basque Country, 47 from Spain and 28 from abroad, according to the Bilbao-Bizkaia 2023 Year Book.
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