Oct 02
Q.C. TURNS OVER 2012 CULTURAL TAX SHARE TO FAP by fapweb  |  Posted in Articles  |  on Wed, Oct 2, 2013

Quezon City turned over to the Film Academy of the Philippines the amount of P475,077.31 as its 20 percent tax share on the 25-centavo Cultural Development Tax collected by movie houses retroactive for the year 2012. The check was dated September 16, 2013.

The city government has actually released three checks earlier to cover the cultural tax share of the Academy retroactive from 1992 to 2012. The checks were in the amount of P4,976,251 (1992 to 1997); the amount of P5,835,508 (1998 to 2008)and the amount of P2,889,593 (2009 to 2011).

The total share Quezon City had turned over to FAP amounts to P14,176,429.

Like Quezon City, Manila and Makati have also turned over the Academy’s share of the cultural tax from 1992 to 2011. Manila turned over the amount of P2,744,746 while Makati turned over P4,798,343.

Three Metropolitan Manila cities have also turned over the Academy’s share of the cultural tax, namely:

Pasay City (2010-2011)

Mandaluyong City (2008-2010)

Caloocan City (1999-2011)

Meanwhile, the Metropolitan Manila Development Authority forwarded to the Academy a check dated September 16, 2013 in the amount of P200,000 representing the 6th tranche of the share of the Academy of the tax proceeds from the 2012 Metropolitan Manila Film Festival.

The FAP has so far received P1.8 million from the MMDA as its MMFF share.

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 is as follows:
MOWELFUND 50%; Film Academy of the Philippines 20% ; Motion Picture Anti-Film Piracy Council 20%; Optical Media Board 5%; and Film Development Council of the Philippines 5%.

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


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