The Metropolitan Manila Development Authority on November 19 released to the Film Academy of the Philippines the amount of P200,000 as the Academy’s share from the proceeds of the amusement tax rebate during last year’s film festival.
The seventh tranche brought the total received by the FAP to P2 million. The Academy earlier received the following tranches: P400,000, February 26; P200,000, March 11; P400,000, March 22; P300,000, May 21; P300,000, July 9; and P200,000, September 16.
In November, 2010, President Aquino ordered a revised distribution of the Metro Manila Film Festival proceeds 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:
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