The Metropolitan Manila Development Authority has released to the Film Academy of the Philippines the amount of P400,000 as the third tranche of the Academy’s share from the proceeds of the amusement tax rebate during last December’s film festival. This brings to P1.4 million already received by the Academy.
The second tranche of P600,000 was distributed on February 23 during the launching of the 2012 Metro Manila Filmfest while the first tranche of P400,000 was released on Feb. 15.
Since November, 2010, the distribution of the amusement tax proceeds was revised as follows:
Film Academy of the Philippines 20%
Motion Picture Anti-Film Piracy Council 20%
Optical Media Board 5%
Film Development Council of the Philippines 5%
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: