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Practical Handbook for Companies 2021

Scope and requirements

With effect for tax periods beginning on or after 1 January 2021, in addition to the producer who invests in Spanish feature and short film productions and fiction, animation or documentary audiovisual series, which allow the production of a physical medium prior to their serialised industrial production, the tax credit for investments in Spanish film productions may be applied by the contributor who participates in the financing of these productions, provided that the following requirements are met:

  1. That the production obtains the corresponding certificate of nationality and the certificate accrediting its cultural character in relation to its content, its link with the Spanish cultural reality or its contribution to the enrichment of the cultural diversity of cinematographic works shown in Spain, issued by the Instituto de Cinematografía y de las Artes Audiovisuales, or by the corresponding body of the Autonomous Community with competence in the matter.

    With effect for tax periods beginning on or after 1 January 2021, these certificates will be binding for the competent tax authorities for the accreditation and application of the above tax incentives and identification of the beneficiary producer, regardless of when they are issued.

  2. A new copy in perfect condition of the production must be handed over to the Filmoteca Española or the film library officially recognised by the respective Autonomous Community.

  3. In addition, in order for the taxpayer who participates in the financing of the production carried out by another taxpayer to be able to apply the deduction, he must sign a financing contract with the producer, which must be presented together with the certification of compliance with the requirements set out in letters a) and b) above, in a communication to the tax authorities, signed by both the taxpayer and the producer, prior to the end of the tax period in which the deduction is generated, under the terms established by regulations.

  4. Finally, it is required that the assets must remain in operation for 5 years for immovable property, 3 years for movable property.or during the lifetime if shorter.With effect for tax periods beginning on or after 1 January 2021, in the case of film productions and audiovisual series, this requirement shall be deemed to be met to the extent that the production company maintains the same percentage of ownership of the work for a period of 3 years, without prejudice to its right to market all or part of the exploitation rights derived from the work to one or more third parties.

A tener en cuenta:

Royal Decree-Law 17/2020, of 5 May, amends the definition of film productions, allowing that until 31 August 2020 (this period has been extended by Order CUD/807/2020, of 27 August until 31 January 2021), the commercial release of a film can also be considered, without it losing its status as a cinematographic film. Therefore, the deduction for investments in Spanish film productions is applicable to those carried out through television and platforms that offer streaming content (through audiovisual television communication services, as well as electronic communication services that broadcast television channels), and the deduction for investments in Spanish film productions is applicable to those carried out through television and platforms that offer streaming content (through audiovisual television communication services and electronic communication services that broadcast television channels ).