FYM Navarra – Tax Deduction

 

35% DEDUCTION FOR AUDIOVISUAL WORKS (FICTION, ANIMATION AND/OR DOCUMENTARIES)

The region of Navarre allows access to a 35% tax deduction, in form of tax credit, for Spanish productions and co-productions, the biggest tax advantages on Spain’s mainland.

 

WHAT KIND OF PRODUCTIONS QUALIFY?

Foreign productions of feature films, animation films, fiction series and documentaries are included. 

 

WHAT REQUIREMENTS MUST BE MET?

  • At least 40% of the deduction base must correspond to expenses incurred in Navarre. Through our Navarra branch, the postproduction services can be included in the 40% requirement.
  • Deduction limit per production: 3 million euros.

 

CASE EXAMPLE:

A €2 million budget film that expended 40% of the budget on the Navarra region. Due the Navarre scheme, €280K (35% of the amount spent on the region) is refundable.