Mexico City, Mexico — Salma Hayek Pinault joined Mexican President Claudia Sheinbaum on Sunday to unveil a significant new initiative aimed at bolstering the country’s film industry, which includes a 30% income tax incentive for production projects. During the event, Hayek emphasized the importance of Mexican cinema and expressed her pride in collaborating with the nation’s film community.
Having kicked off her career in Mexican telenovelas before making a name for herself in Hollywood, Hayek reflected on how foundational her roots in Mexican cinema have been to her success. “It was a great honor to stand alongside this same community today and announce this incredible new initiative,” she said, highlighting her deep gratitude to those who shaped her early career.
The initiative, aimed at enhancing training, production, exhibition, and preservation, features a newly implemented income tax incentive. This measure, coordinated with the Ministry of Finance and Public Credit, seeks to rejuvenate film and audiovisual production within Mexico. The incentive officially went into effect immediately.
Claudia Curiel de Icaza, the Minister of Culture, explained that filmmakers will be eligible for up to 30% of the income tax related to expenses incurred during the project, with a cap of 40 million pesos, equivalent to approximately $2.3 million. To qualify, projects must utilize at least 70% domestic suppliers, ensuring that local resources are prioritized.
The latest measure aims not only to attract international productions but also to keep domestic projects flourishing within the country. This approach promises to enhance Mexico’s creative economy while reinforcing its cultural sovereignty and promoting diverse storytelling.
Eligible projects span various genres, including fiction and animated feature films, as well as series episodes. To qualify, projects must meet specific expenditure thresholds — a minimum of 40 million pesos for feature films, 20 million pesos for documentary features, and 5 million pesos for animation or post-production efforts.
Hayek shared her belief in the potential of Mexican cinema, stating, “Mexico boasts a long and distinguished cinematic legacy, home to some of the most talented artists and technicians I’ve ever worked with.” She expressed enthusiasm for the new incentive and its promise to elevate the country’s film community further.
In closing her remarks, Hayek thanked President Sheinbaum and the attendees, celebrating what she described as a historic moment for Mexico’s film industry. The launch of this support plan aims to shine a spotlight on the country’s wealth of talent and creativity, encouraging both domestic and international collaborations in filmmaking.