Feb 17
MMDA RELEASES 1ST TRANCHE OF FAP’S FILMFEST SHARE by fapweb  |  Posted in Articles  |  on Fri, Feb 17, 2012

The Metropolitan Manila Development Authority has released to the Film Academy of the Philippines the amount of P400,000 as the first tranche of the Academy’s share from the proceeds of the amusement tax rebate during last December’s film festival.

The second tranche will be distributed on February 23 during the launching of the 2012 Metro Manila Filmfest and the appreciation dinner for the last filmfest.

The Landbank check for P400,000 dated February 1, 2012 was released to the Academy last Wednesday, Feb. 15.

In November, 2010, President Aquino ordered a revised distribution of the Metro Manila Film Festival proceeds which increased the share of the Academy from 10 to 20 percent.

The distribution of the amusement tax proceeds will be:

MOWELFUND – 50%
Film Academy of the Philippines – 20%
Motion Picture Anti-Film Piracy Council – 20%
Optical Media Board – 5%
Film Development Council of the Philippines – 5%

The new sharing removed the Presidential Social Fund from the list of beneficiaries.

Since 2006, the sharing scheme was as follows: MOWELFUND and the Presidential Social Fund, 35% each; the Academy and the FDCP, 10% each; and the Anti-Film Piracy Council and the OMB, 5% each.

Before this, the sharing had MOWELFUND, FAP and the Anti-Film Piracy Council getting 30% each with the remaining 10% going to the Presidential Social Fund.

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

2010—P2,240,000
2009—P600,000
2008—P900,000
2007—P750,000
2006—P1,300,000
2005—P1,325,000
2004—P7,400,000
2003—P9,000,000
2002—P7,000,000
2001—P3,150,000
2000—P3,936,000
1999—P4,600,000
1998—P3,333,946
1997—P2,620,397
1996—P2,443,302
1995—P2,440,000
1994—P2,400,000
1993—P3,300,000
1992—P4,000,000
1991—P3,233,000
1990—P1,600,000


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