Mexico targets Hollywood with tax incentives

10/03/2010 at 7:26 am Leave a comment


Mexico has launched a $20-million tax-incentive program in an ambitious move to lure film production from Hollywood and other locales.

Mexican President Felipe Calderon said Tuesday he hopes the program will make Mexico “the capital of Latin American cinema.”

He made the announcement at Baja Studios in the state of Baja California, where James Cameron’s “Titanic” and Peter Weir’s “Master and Commander: Far Side of the World” were shot in the studio’s colossal tanks.

Managed by state-run film financing agency Imcine and Mexican trade and investment body ProMexico, the program offers tax rebates of 7.5% on film productions that exceed the amount of 70 million pesos ($5.5 million). By Mexican standards, where the average budget runs about $2 million, that is considered a high-budget production. The fund will double next year to $40 million.

To qualify, foreign producers must contract local production services. Producers also can write off an additional 10% owed for IVA, Mexico’s value-added tax.

“The message is that there is a 17.5% rebate for foreign productions,” said Manuel Sandoval, ProMexico’s head of strategy and innovation.

Source: Reuters

Entry filed under: DIGITAL CINEMA, DIRECTORS, DISTRIBUTORS, LATIN AMERICAN FILM, MARKETING, MEXICAN CINEMA, PRODUCTORS. Tags: , , , , .

Latino Celebrities who lit up the Oscars 2010 The Havana Film Festival New York

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Trackback this post  |  Subscribe to the comments via RSS Feed


Follow us in FB

Twitter Latam Film

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

Follow us

Latin America Film Ltd on LinkedIn

RSS deleFOCO Articles

  • An error has occurred; the feed is probably down. Try again later.

Enter your email address to subscribe to our blog and receive notifications of new posts by email.

Join 9,606 other followers


%d bloggers like this: