FILM TAX CREDITS
If you are planning on filming in Puerto Rico, you could be eligible for tax incentives and economic benefits offered by the Puerto Rico Tax Incentives Code. We can handle the application process, government relations and tax credit placement and monetization.
ELIGIBLE ACTIVITIES
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Feature Films
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Short Films
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Documentaries
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Commercials
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Video Games
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Music Videos
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Series, Mini-Series, including pilots
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TV Programs, including reality shows
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Stand-Alone post productions
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Film Festivals
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Live Events
PRODUCTION INCENTIVES
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40% of payments to residents of Puerto Rico;
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20% of payments to non-residents; and
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15% of payments to residents of Puerto Rico, when a local producer of a feature film, series or documentary controls the intellectual property of the project, is responsible for its financing and production, and is entitled to 30% or more of the “producers’ net”
PLACEMENT AND MONETIZATION
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Tax credits sell for an average of 90% of face value, depending on demand and supply, taxable year of the credit, moment in the taxable year the tax credit is being sold, and amount of tax credit to be sold.
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Tax credits are allowed to be used against 100% of a person’s tax liability, which maximizes their value.
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There is no recapture against bona fide buyers.
PREFERENTIAL TAX RATE
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4% fixed income tax rate
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100% exemption on dividends and distributions
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100% exemption on municipal license taxes, excise taxes, and other municipal taxes
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75% exemption on municipal and state property taxes
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75% on municipal construction taxes
CONTACT
WE ARE BROKERS OF IDEAS AND SPONSORS OF GROWTH
The Sifre Group is always available to explore how they can contribute to your project or business.