Jun 25
FAP RECEIVES CULTURAL TAX SHARE FROM MANILA by fapweb  |  Posted in Articles  |  on Mon, Jun 25, 2012

Manila turned over to the Film Academy of the Philippines last June 20 its cultural tax share in admission tickets for cinemahouses in 2010-2011, amounting to P413,583.58.

Manila is the third city in about a week which handed over to the Academy its cultural tax share. Quezon City earlier turned over P2,889,593.53 covering the period 2009 to 2011 while Makati handed over P353,540.49 for 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.

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. The total cultural tax share of the Academy has so far totalled P16,621,735.77.

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