The 50M cap on audiovisual incentives in the Canary Islands was eliminated

At the beginning of the year, in April, the Council of Ministers of Spain approved the modification of the tax incentive regime for all audiovisual projects carried out in the Canary Islands, thus eliminating the 50 million euros cap on total annual tax incentives tapped by movies and series shooting in the archipelago. Now that this limit is abolished, all producers in the island can enjoy the rebates with caps of €36 million [$38.9 million] tax rebate/credit for a film, and €18 million [$19.4 million] per episode for a series.