The province of Basque Autonomous Community Guipuzcoa has approved a new regional regulation that establishes tax incentives to promote culture and will favor the taxation of film and television productions, performing arts, and book publishing.
The deductions applicable to the cost of producing and promoting a film are extended from the current 35% to 60% generally, reaching up to 70% if the production is in Basque. The maximum deductible amount, both in Spanish and Basque, will be 10 million euros per film and 3 million euros per episode for series.
With the approval of this regulation, Guipuzcoa aligns with Biscay and aims to strengthen the audiovisual and cultural sector in the region to ensure its long-term competitiveness.