Production Incentives Update: December 2023

In this post, learn about notable dates and modifications to production incentive programs in California, India and Spain.

United States Jurisdiction Updates

California

The next application window for California's Film & TV Tax Credit Program is currently scheduled for January 22-24, 2024, for Independent and Non-Independent films, with a February 26, 2024 approval date.

California offers a 20-30% tax credit on qualified expenditures for productions filmed in the state.

International Jurisdiction Updates

India

The Ministry for Information and Broadcasting has announced an enhancement to India's incentive program to attract more film production. The program now has a new-based credit of 40%, up from 30%, and a new project cap of INR 300M, up from INR 25M. There is also an additional uplift of 5% for significant Indian content. Eligibility requires obtaining permission from the Information and Broadcast Ministry, with documentaries also needing clearance from the Ministry of External Affairs.

Spain – Canary Islands

The Ministry of Finance has announced changes to the Canary Islands' Economic and Tax Regime to attract more production to the island. Under the updated program, feature films now have a project cap of €36M, while episodes are limited to €18M. Additionally, for expenditures exceeding €1.9M in the Canary Islands, the rebate can go up to 54% for the initial million and 45% for the rest of the production budget.

The Canary Islands offer a tax rebate on qualified production expenditures.

Your production partner and incentives experts

No matter where you're producing, Entertainment Partners can help you secure the best possible incentives for your project. Visit ep.com/production-incentives to learn more or contact us at incentives@ep.com.