Tax incentives are being offered to elevate Mexico to "the capital of Latin America cinema"

Submitted by mexbiznews on Wed, 03/10/2010 - 7:00am

By John Hecht
The Hollywood Reporter

Mexico has launched a $20-million tax incentive program in an ambitious move to draw large-scale film and audiovisual productions from Hollywood.

Mexican President Felipe Calderon made the announcement Tuesday at Baja Studios in 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.

The president said the program intends to elevate Mexico as "the capital of Latin American cinema."

Managed by state-run film financing agency Imcine and Mexican trade and investment body ProMexico, the upstart program offers tax rebates of 7.5 percent on film productions that exceed the amount of 70 million pesos ($5.5 million).
www.hollywoodreporter.com/hr/content_display/news/e3i5c964e4d188f5581222d37f1411e9cb7

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