The Film Academy of the Philippines finally received the last tranche of its share from the amusement taxes derived from the 2014 Metro Manila Film Festival last March 30, 2016.
But the Metropolitan Manila Development Administration has not yet released the first tranch from the 2015 Metro Manila Filmfest.
The issue of turnovers of shares from the MMFF to FAP and the other beneficiaries was deliberated upon by the committee hearing on the Metro Manila Filmfest held by the House of Representatives since last year.
The last tranche amounting to P500,000 was received by the Academy last March 30. The total share finally amounted to P3.6 million.
Meanwhile, the Academy also received its cultural tax shares from two cities. The shares came from Quezon City which turned over P292,710.80 of cultural tax covering April to December 2015 and Pasay City which turned over P194,774.87 of cultural tax covering June to December 2015.
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