Tax Compliance Verification Drive, isinagawa sa EMBO Barangays
Tax Compliance Verification Drive, isinagawa sa EMBO Barangays
Category
🗞
NewsTranscript
00:00 The Department of the Incarnate Local Government asked the local governments to have a tax holiday for Filipino movies.
00:08 The tax will be free 10% amusement tax for local producers and film companies in the Philippines.
00:15 According to DILG Secretary Benjamin Avalos Jr., he talked to several LGUs here.
00:22 The Mani Film producer, attorney Joji Alonso, explained that they will not receive all the profits from the movies because of the 10% amusement tax.
00:31 At the same time, DILG and PNP will fight piracy in Filipino movies.
00:39 For every 100 million, the producer gets approximately 35 to 37 million net.
00:48 If you produce the film, which costs 50 million, automatically you lose anywhere from 15 to 17 M.
00:57 So the impact of the 10%, which will be declared as a tax holiday, hopefully will be very beneficial to the producers.