Salma Hayek Backs Major Film Incentive in Mexico

Mexico City was the scene of a significant announcement on Sunday as Oscar-nominated actress Salma Hayek Pinault stood alongside Mexican President Claudia Sheinbaum to unveil a new support plan for the nation’s cinema. The cornerstone of this initiative is a substantial 30% income tax incentive designed to invigorate film and audiovisual production within Mexico.

Hayek, a proud daughter of Mexico, expressed her deep connection to the Mexican film community. “I owe my career to the Mexican film community. It was a great honor to stand alongside this same community today and announce this incredible new initiative,” she stated, reflecting on her own journey from Mexican telenovelas to international stardom, including her acclaimed role as Frida Kahlo in the biopic Frida.

A Boost for the Mexican Film Industry

The new incentive, coordinated with the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público, SHCP), aims to attract both high-value international productions and bolster domestic filmmaking. The incentive covers up to 30% of the income tax related to project expenditures within Mexico, capped at 40 million pesos (approximately $2.3 million USD) per project.

A key requirement for eligibility is that projects must utilize at least 70% domestic suppliers, ensuring that the economic benefits remain within Mexico. Minister of Culture, Claudia Curiel de Icaza, emphasized the plan’s goal of strengthening the country’s creative economy, cultural sovereignty, and the diversity of stories told from a Mexican perspective.

Who Qualifies for the Incentive?

The incentive is available to a wide range of entities, including:

• Mexican individuals and legal entities
• Foreign individuals and entities with a permanent establishment in Mexico
• Foreign individuals and entities without a permanent establishment, working through a Mexican resident entity

Specific project requirements include minimum verifiable expenditures:

• Fiction/Animated Feature Films & Series Episodes: 40 million pesos ($2.3M)
• Documentary Feature Films & Series: 20 million pesos ($1.1M)
• Animation, VFX, or Post-Production Processes: 5 million pesos ($291k)

Hayek concluded with a passionate endorsement of the initiative: “Mexico has a long and distinguished cinematic legacy and a film industry that is truly world-class… I’m excited that this incentive will help shine an even brighter light on all of this and continue to strengthen and grow this extraordinary film community.”

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