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tax

Puerto Rico Film Commission Raises Tax Credits Cap

Puerto Rico Film Commission Raises Tax Credits Cap

HUGE news out of Puerto Rico as Governor Pedro R. P. Pierluisi raises the Film Tax incentives cap from $34m to $100m. This can encourage a growth of new investment in qualified film and media projects up to half a billion dollars!

“The film industry has great potential on our island. We have seen it in action over the past few years through highly renowned and successful local and national productions,” Pierluisi said. “The film industry has generated thousands of jobs and positively impacted the island’s economy. I support this industry and have provided more incentives to increase film production in Puerto Rico, which in addition to having a positive effect on economic development, promotes tourism on our island.” - Gov. Pierluisi

The new law will allow the Department of Economic Development and Commerce (DDEC by its Spanish acronym) to distribute $100 million among all eligible film projects. At least 10% of the total incentive is for local productions and documentaries.

Reach out to us at CereProds LLC if you’d like to discuss your next film project in Puerto Rico.

Ethics and Responsible Film Making in Puerto Rico

Ethics and Responsible Film Making in Puerto Rico

One of the greatest assets of the Puerto Rican film production industry is the islands generous system of tax credits. Qualifying productions can receive 40% of a film projects local spend back in the form of transferable tax credits

Make Video Your Best Friend in Marketing

Make Video Your Best Friend in Marketing

Video is far and away the most persuasive sales tool in any brands’ arsenal. Gone are the days of slow-loading, heavily pixelated videos- todays brands shoot in 4k, with full motion control, cinema grade lenses, 3D graphics, color grading, carefully structured scripts, storyboards and positioning to keep production values at the highest level and ensure the best…

Your Guide to Filming in Puerto Rico

Your Guide to Filming in Puerto Rico

It has played for countless locations around the world and continues to attract producers with its blend of contemporary and historic architecture and naturally occurring features, but Puerto Rico is not just loved because of its environmental factors. With starting rates at 40%, PR offers the most competitive tax credits available in the United States, thanks to its commitment to driving investment and trade with the mainland and beyond.

Film Production Tax Incentives: Puerto Rico

Film Production Tax Incentives: Puerto Rico

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...

Winds of Change, Puerto Rico: The Forgotten Colony

Winds of Change, Puerto Rico: The Forgotten Colony

The winds of Hurricane Maria left a wound across the island of Puerto Rico, not just in its physical impact but by accelerating the need for conclusion and swift resolution as pertains her economic woes.