Jun 18
FAP RECEIVES CULTURAL TAX SHARES FROM QC, MAKATI by fapweb  |  Posted in Articles  |  on Mon, Jun 18, 2012

Quezon City and Makati City recently turned over to the Film Academy of the Philippines the latter’s cultural tax share in 2009 to 2011 in the admission tickets for cinemahouses.

The Quezon City check for P2,889,593.53 covered the period 2009 to 2011 while the Makati check for P353,540.49 covered the years 2010 and 2011.

The Academy is entitled to get five centavos from the 25-centavo cultural tax. It also gets 20 percent of the rebate on amusement taxes during the annual Metropolitan Manila Film Festival.

There are moves to insert the annual budget of the Academy in the Department of Education budget even during the term of President Gloria Macapagal-Arroyo but this has not yet materialized up to now.

The remittance of the accumulated cultural tax shares started in 2008 when the city government of Manila turned over P2,113,624.75, covering the period 1992-2007. The city also turned over P217,540.45 for the period 2008 to 2009.

Makati turned over the accumulated cultural tax (for the period 1992 to 2008) which totalled P4,242,823.72 in March, 2008. It also turned over P192,212.40 for the year 2009.

Quezon City turned over the cultural tax share of the Academy for the year 1998 to 2008 that totalled P5,835,508.95 in September, 2006.

Mandaluyong turned over P353,540.49, covering the years 2008 to 2010 in August 2011.

Your FEEDBACK can be posted at www.filmacademyphil.org/forum/