Spanish Film Industry Voices Disappointment Over 20 Percent Tax Credit Proposal - The Hollywood Reporter “We were expecting more and, given the way the draft looks now, it seems insufficient. We hope to be able to amend it in the governmental and parliamentary process that remains. It’s a problem of competition. With these figures, we can’t compete with other countries (Germany, Italy or France have up to 40 percent) and the result is damaging for the Spanish industry,” said the president of the Spanish producers lobby FAPAE, Ramon Colom. PHOTOS Studio Profit Report: Who's Up and Who's Down The industry as a whole complained that the long period of negotiations between the government and the industry that concluded with a commission’s recommendation for 30 percent proved useless. According to the draft, producers would receive a 20 percent tax deduction on the first million euros and 18 percent for everything over the first million, with a cap at €3 million ($4.08 million). The measure is part of a Spanish government fiscal reform program intended to bring down Spain’s debt. Spanish films with a budget of €30 million ($40.8 million) like Juan Antonio Bayona’s The Impossible would receive a maximum of €3 million in tax deduction. PHOTOS World Cup: Craziest and Most Colorful Fans “I want to think that it’s a mistake and that there hasn’t been time yet to study the measures,” Impossible producer Belen Atienza of Apaches Entertainment told the Spanish daily El Pais. “There is no political will. In the government they aren’t aware that many people worldwide are watching what happens here. They just sank foreign expectations. Why should they come to Spain if in the U.K. they receive 30 percent?” Atienza could likely have been referring to the World War Z sequel to be directed by Bayona, which could naturally have sought Spanish co-production. “What bothers me the most is the disregard for all the work done, consultants hired, multiple meetings to explain how the sector works and the need for that kind of percentage so that someone would come shoot here,” Francisco Ramos, of Zeta Audiovisual, told El Pais. International 2 0 0 0 Email Print Photo GalleryView GalleryStudio Profit Report: Who's Up and Who's Down Taylor Schilling, Zooey Deschanel, Mindy Kaling on Fake-Peeing, Showering With Co-Stars and Rude FansTop GalleriesGone Too Soon: 8 Oscar Winners and Nominees Who Met Tragic Ends (Photos) Meet the 'Star Wars: Episode VII' Cast (Photos) Vintage Malibu: Elizabeth Taylor, Marilyn Monroe on the Beach (Photos) If the World Cup Were a Movie: Christian Bale as Lionel Messi, and 11 Other Casting Ideas (Photos) Hollywood's Notable Deaths of 2014 (Photos) In This Week's MagazineThe Drive (and Despair) of The RockMore from this issueSubscribe NowGive a GiftFrom the Galleries PHOTOS: World Cup's Craziest FansFrom carrot-adorned headdresses to weeping kangaroos. View gallery PHOTOS: MuchMusic Video AwardsLorde performed at Sunday night's show. View gallery Annecy Animated Film Festival Preview: From Sm...Now in its 54th year, the weeklong French festival features premier... View gallery PHOTOS: If the World Cup Were a MovieTHR casts Hollywood A-listers to play soccer's biggest stars. View gallery See More Galleries These Intricate Postcards Are Quite Possibly The Best 'Twin Peaks' Fan Art We've Seen Yet The 10 Most Romantic Art Documentaries Of All Time Jennifer Aniston Supports Fiance Justin Theroux At 'The Leftovers' Premiere Taylor Schilling Gets Real About Body Image In Allure Magazine 24: Live Another Day Recap: Rough Justice Review: HBO's The Leftovers Is All Bleakness All the Time Adriana Lima Kicks a Soccer Ball To Promote World Cup - Watch Now! Kate Upton Uses Alcohol to Battle The 'Bartender' in Lady Antebellum Music Video - Watch Now! Emily Ratajkowski Is Sexy & Topless For 'GQ' July 2014 Cover! Jamie Chung Dishes on Wedding Details & Wanting Kids with Bryan Greenberg! What's Hot On The Hollywood ReporterInside the Daytime Emmy Awards: Highlights From the Show (Photos)View galleryIf the World Cup Were a Movie: Christian Bale as Lionel Messi, and 11 Other Casting Ideas (Photos)View galleryHollywood's Notable Deaths of 2014View galleryVintage Malibu: Elizabeth Taylor, Marilyn Monroe on the Beach (Photos)View gallery
The draft tax credit lags behind the 25-40 percent offered by the U.K., Germany and other European nations, giving international productions little incentive to shoot in Spain, local producers say.