What's Happening?
Colombia has announced a significant increase in its Audiovisual Investment Certificate (CINA) budget allocation for tax credits, raising it to approximately $90 million for 2026. This marks a 49% increase from
the previous year and is the largest allocation in the history of the incentive. The CINA program offers a transferable tax credit equivalent to 35% of eligible expenses for foreign productions in Colombia. Additionally, the Colombia Film Fund provides a cash rebate of 40% on audiovisual services and 20% on logistical services. These incentives have attracted over 165 international projects, generating substantial investment and creating numerous jobs. The increase in the CINA budget reflects the Colombian government's confidence in the growth of its audiovisual sector and its ability to attract international investment.
Why It's Important?
The increase in Colombia's tax credit allocation is significant for the global film industry, particularly for U.S. studios and streaming platforms like Netflix, Amazon, and Disney+. By offering competitive financial incentives, Colombia positions itself as a favorable destination for international productions, which can lead to cost savings and access to diverse filming locations. This move is likely to enhance Colombia's reputation as a competitive production hub in Latin America, potentially drawing more high-profile projects and investments. For U.S. companies, this presents an opportunity to reduce production costs while benefiting from Colombia's skilled workforce and varied landscapes.
What's Next?
With the increased budget for 2026, several high-profile projects are set to benefit from Colombia's tax incentives. These include the second season of 'The Night Manager' and 'One Hundred Years of Solitude,' both of which are expected to premiere on major streaming platforms. The success of these projects could further solidify Colombia's status as a key player in the international film production market. As more productions take advantage of these incentives, it is likely that other countries may consider similar strategies to attract foreign investment in their audiovisual sectors.
