Recent changes to the law pertaining film tax credits in Puerto Rico have provided great benefits for commercial producers in particular, with the threshold for qualification being reduced to $50,000. At base level returns start at 40% on local spend. The film incentive opportunities in Puerto Rico even extend to payment of non-resident talent at 20%, including producers, writers, actors and even stunt doubles. Producers are enjoying the unique features and high-end commercial production capabilities of the island, and this modification to the law only sweetens the pot.
Film making is a business, beyond all other things. More than art, more than movement. When we get down to the brass tacks there is always the question of bottom line. The film tax incentives in Puerto Rico help raise that bottom line, providing much more value-per-dollar spent on production, allowing our clients to concentrate on what matters most: high quality content. While the experts at CereProds handle complex filming practicalities, our local partners manage the financial assets of production to maximize the return and even raise it beyond the 40% starting rate. Did we mention that the 40% credit was for all island expenditure, which includes incentive management, audit, consultancy fees and even the cost of submission to the film commission itself?
Puerto Rico has always had a tremendous blend of contemporary and classic, of roots and exploration, and the existence of such beneficial financial mechanics serve as a reminder to media producers that where there is paradise, there can also be profit.
Learn more about Puerto Rico’s Film Tax Incentives.
If you would like to find out how CereProds can provide complete production services to your next commercial, film, TV, documentary or music video production then email info@cereprods.com immediately. The incentives awarded are a finite resource, so act early to ensure your company claims the benefits while they are available!