Visualnet for Studios and Broadcasters — Your productions' procurement, documented

Regulatory framework

Every jurisdiction has its own rules.
All of them ask how procurement was done.

Documentation requirements vary according to the studio's market and the country of production. Select your territory to see the specific regulatory framework that applies to your production.

Domestic production

State tax credits: each state sets its own rules. Visualnet documents how procurement was done.

Tax credits in Georgia, New York, California and other states are administered by the states themselves: each one sets which expenditure qualifies, how it is evidenced and who reviews it, and several require a report from an independent certified public accountant (CPA). Where there are transactions between related entities, IRC §482 allows the IRS to adjust their price when it is not the one independent parties would have agreed. And if the studio is listed in the US, its CEO and CFO certify each periodic report they file with the SEC and their responsibility for the controls (SOX §302).

Regulatory framework

IRC §482 (IRS) SOX §302 / §404 FCPA (DOJ/SEC) State tax credit substantiation

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and an EU-qualified time stamp under Regulation (EU) No 910/2014 (eIDAS). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. Your finance team can provide it to its auditors and in support of the state credit claim as documentation of how each cost was contracted. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer. Over 97,000 film and TV suppliers.

International production

The IRS follows your production to the UK and to Spain. So does the DOJ.

The United Kingdom and Spain are two of the main destinations for American studio productions seeking incentives outside North America. In 2025, film and high-end TV production in the UK totalled £6.8 billion, of which £5.8 billion was inward investment (BFI). In Spain, Art. 36.2 LIS and the Canary Islands Economic and Tax Regime attract large international productions. If the studio and its production company are related entities, IRC §482 allows the IRS to adjust the price of their transactions when it is not the one independent parties would have agreed. The FCPA prohibits paying a foreign official to obtain or retain business; for the company to be liable for a payment made through a third party, it requires that the company knew, or was aware of a high probability, that it would occur, and the DOJ can investigate it. In the United Kingdom, section 7 of the Bribery Act makes a company liable when a person associated with it bribes to obtain business or an advantage for the company.

Regulatory framework

IRC §482 FCPA (DOJ/SEC) SOX §302 / §404 UK Bribery Act 2010 (SFO) HMRC AVEC Art. 36.2 LIS + REF Canario (AEAT)

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and an EU-qualified time stamp under Regulation (EU) No 910/2014 (eIDAS). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. It documents what is contracted in Leavesden or in the Canary Islands with the same procedure, and your finance team can provide it to its auditors. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer.

Domestic production

HMRC's AVEC. BFI certification. UK Bribery Act. Three different frameworks.

Since 1 January 2024, the Audio-Visual Expenditure Credit (AVEC) replaces Film Tax Relief and High-End TV Tax Relief. It requires at least 10% of core expenditure to be used or consumed in the UK, and the credit is calculated on that UK expenditure, capped at 80% of total core expenditure. It is administered by HMRC. The BFI certifies that the work is British (cultural test), which is a condition of the credit; the expenditure is reviewed by HMRC. Separately, section 7 of the UK Bribery Act 2010 makes a company liable when a person associated with it bribes to obtain or retain business or an advantage for the company; the law allows it to defend itself by proving that it had adequate procedures in place to prevent it.

Regulatory framework

HMRC AVEC BFI cultural test UK Bribery Act 2010 (SFO)

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and an EU-qualified time stamp under Regulation (EU) No 910/2014 (eIDAS). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. The production can provide it to its auditors and in the review of the credit as documentation of each cost line. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer.

International production

Your Spanish service production company can be your associated person: if it bribes to obtain business or an advantage for you, section 7 reaches you.

Section 7 of the UK Bribery Act 2010 makes a company liable when a person associated with it bribes to obtain or retain business or an advantage for the company, even if the company did not know. An associated person is someone who performs services for or on behalf of the company, and this is decided by the circumstances of each case: a service production company can be one. If there is bribery, the Serious Fraud Office can investigate. The law allows the company to defend itself by proving that it had adequate procedures in place to prevent it.

Regulatory framework

UK Bribery Act 2010 (SFO) Adequate procedures defence Associated person liability Art. 36.2 LIS (AEAT)

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and an EU-qualified time stamp under Regulation (EU) No 910/2014 (eIDAS). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. It also documents the procurement of your production company in Spain, and your organisation can provide it to its auditors. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer.

Domestic production

Art. 36.1 LIS, Canary Islands incentive, foral tax regimes. The deduction is obtained. Then it is checked.

Spain offers three tax incentive frameworks for national productions. Art. 36.1 LIS grants a deduction of 25–30% for national productions with an ICAA cultural certificate. The Canary Islands Economic and Tax Regime raises those percentages for productions shot in the archipelago. The foral territories of the Basque Country (Álava, Gipuzkoa, Bizkaia) and Navarre apply their own rates through their foral tax authorities. In all three cases, the AEAT —or the Foral Treasury— can check that the expenses in the base are real and justified —as a rule, with an invoice— and, where there are related parties, that they are valued at market. Whatever is not justified can be removed from the base, with late-payment interest and, where applicable, a penalty. The Spanish Criminal Code (Art. 31 bis, as worded by Organic Law 1/2015) can hold the company liable for a tax offence —evaded tax above €120,000 (Art. 305)— committed for its benefit by its directors or, where there has been a serious breach of supervision and control duties, by its employees. An effective prevention model can exempt it.

Regulatory framework

Art. 36.1 LIS (25–30%) REF Canario Haciendas Forales Vascas y Navarra ICAA AEAT / Haciendas Forales Art. 31 bis CP

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and a qualified eIDAS time stamp, which enjoys the presumption of the accuracy of its date and of its integrity (Art. 41.2 and, in Spain, Art. 326.4 LEC). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. The production company can provide it to the AEAT or the Foral Treasury as documentation of how it contracted each line. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer. Over 97,000 film and TV suppliers.

International production (service)

Art. 36.2 LIS and the Canary Islands incentive. A high deduction, which the AEAT can check line by line.

For foreign productions, the base of Art. 36.2 LIS is the expenditure incurred in Spain, with a minimum of €1 million (€200,000 for animation productions). The Canary Islands Economic and Tax Regime raises the percentages. The AEAT can check that the expenses in the base are real and justified and, where there are related parties, that they are valued at market value (Art. 18 LIS). If the studio and the service production company are related entities, IRC §482 also allows the IRS to adjust the price between them; and if there is bribery, the Bribery Act or the FCPA can reach the studio.

Regulatory framework

Art. 36.2 LIS REF Canario ICAA + film commissions AEAT IRC §482 / UK Bribery Act

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and an EU-qualified time stamp under Regulation (EU) No 910/2014 (eIDAS). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. The production company can provide it to the AEAT (Art. 41.2 and, in Spain, Art. 326.4 LEC), and the foreign studio to its auditors. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer.

Co-productions & global streamers

One production. Three jurisdictions. One procedure.

A production with American financing, shot in Spain and with British creative participation has several frameworks at once: the AEAT for the deduction; the IRS, for prices between related entities; and, if there is bribery, the FCPA and the Bribery Act. Each framework has its own rules.

Regulatory framework

IRC §482 (IRS) UK Bribery Act (SFO) Art. 36.2 LIS (AEAT) FCPA (DOJ/SEC)

What Visualnet documents

The Procurement File for each production documents what was requested, from whom, which bids arrived, how they were compared and to whom each line was awarded —with its justification when the chosen bid is above the average—, under a proprietary methodology with a patent pending (U.S. Patent Application No. 64/036,591). It carries an advanced electronic signature based on a qualified certificate and an EU-qualified time stamp under Regulation (EU) No 910/2014 (eIDAS). Compared with two or three loose emails with quotes, it is a complete, independent and documented procedure. A single Procurement File documents the procurement of the whole production, and each partner can provide it to its auditors in its own jurisdiction. Where appropriate, a ROAC-registered auditor can issue an NISR 4400 report on that File as an additional professional layer.

Incentive optimisation

Choosing where to shoot based on the incentive? The incentive is reviewed against the spend.

Spain, the Canary Islands, Ireland, Hungary, the Czech Republic: the comparison of incentives is well known. What is calculated less often is the review: in Spain, the AEAT can check that the expenses in the base are real and justified, and whatever is not justified can be removed from the base, with late-payment interest and, where applicable, a penalty.

Regulatory framework

Local procurement documentation

What Visualnet documents

Each line of the local budget is contracted by comparing the bids received from local suppliers, with full traceability of the procedure. Whoever reviews the spend finds the procedure documented, not a declared figure.

Proprietary methodology. Patent pending.

Three principles of the methodology.

Directory coverage

On publication, all active companies in the directory with that activity in the country of the shoot are invited, and their number is recorded. Those with access to Visualnet receive the notice by email. Over 97,000 film and TV suppliers in the directory.

Classification by bids received

Full coverage: three bids or more. Market exhausted: one or two. With zero bids, the request does not close. The level is recorded in the Procurement File.

Chained, verifiable record

Each event in the process is recorded with its time, chained by SHA-256 to the previous one and given a gapless sequence number, which makes detectable any alteration of an event's recorded content or the deletion of any event. In addition, the user the platform operates with has no permission to modify or delete the record, and three database triggers are active. The Procurement File that brings those events together carries an advanced electronic signature based on a qualified certificate and a qualified eIDAS time stamp.

With Visualnet, the production company shares the signed Procurement File with the studio, with the history and the bid comparisons

Documentation of how each service was contracted and which bids it was compared with, from request to award.
U.S. Patent Application Nos. 64/036,591 and 64/043,957 · Patent pending

The same documented procedure in every production you commission

Every jurisdiction has its own rules.
All of them ask how procurement was done.

State tax credits: each state sets its own rules. Visualnet documents how procurement was done.

The IRS follows your production to the UK and to Spain. So does the DOJ.

HMRC's AVEC. BFI certification. UK Bribery Act. Three different frameworks.

Your Spanish service production company can be your associated person: if it bribes to obtain business or an advantage for you, section 7 reaches you.

Art. 36.1 LIS, Canary Islands incentive, foral tax regimes. The deduction is obtained. Then it is checked.

Art. 36.2 LIS and the Canary Islands incentive. A high deduction, which the AEAT can check line by line.

One production. Three jurisdictions. One procedure.

Choosing where to shoot based on the incentive? The incentive is reviewed against the spend.

Proprietary methodology. Patent pending.

When you commission a production, how it is procured matters to you too

What Visualnet puts at your disposal

Read-only access, with the framework agreement

Bid comparisons in the signed Procurement File, line by line

Chained history

Framework agreement with the studio

Every production you commission, documented the same way.

The same documented procedure in every production you commission

Every jurisdiction has its own rules.All of them ask how procurement was done.

State tax credits: each state sets its own rules. Visualnet documents how procurement was done.

The IRS follows your production to the UK and to Spain. So does the DOJ.

HMRC's AVEC. BFI certification. UK Bribery Act. Three different frameworks.

Your Spanish service production company can be your associated person: if it bribes to obtain business or an advantage for you, section 7 reaches you.

Art. 36.1 LIS, Canary Islands incentive, foral tax regimes. The deduction is obtained. Then it is checked.

Art. 36.2 LIS and the Canary Islands incentive. A high deduction, which the AEAT can check line by line.

One production. Three jurisdictions. One procedure.

Choosing where to shoot based on the incentive? The incentive is reviewed against the spend.

Proprietary methodology. Patent pending.

When you commission a production, how it is procured matters to you too

What Visualnet puts at your disposal

Read-only access, with the framework agreement

Bid comparisons in the signed Procurement File, line by line

Chained history

Framework agreement with the studio

Every production you commission, documented the same way.

Every jurisdiction has its own rules.
All of them ask how procurement was done.