May 21
MMFFP SHARE OF FAP FURTHER DWINDLES by fapweb  |  Posted in Articles  |  on Fri, May 21, 2010

The ten percent share of the Film Academy of the Philippines from the amusement tax rebate of the Metropolitan Manila Film Festival further dwindled for the year 2009.

The Academy received an additional P100,000 share from such proceeds last Thursday, May 20. During the launching of the 2010 Metro Manila Filmfest last February 26, the FAP also received the first tranche of P350,000 for a total of P450,000.

There is no announcement from the Filmfest executive committee if the second tranche corresponds to the full share the Academy is expecting from the amusement tax rebate.

The Academy is one of six beneficiaries of the Filmfest rebate annually. The others are the MOWELFUND (35%), the Presidential Social Fund (35%), the Film Development Council of the Philippines (10%), the Optical Media Board (5%) and the Motion Picture Anti-Film Piracy Council (5%).

From 1986 to 2002, the Academy had a 20% share of the rebate. This was even raised to 30% for the years 2003 and 2004 and drastically trimmed down to 10% since 2005.

The total share of the FAP for the past years are as follows: