Among the hardest hit by the COVID-19 pandemic, the country’s film and music industries are the beneficiaries of tax exemptions and assistance in a bill unanimously passed on third and final reading in the House of Representatives on Monday, Jan. 17.With Pangasinan Fourth District Rep.
Under the bill, amusement tax collected by local government units will be lowered from the current ten percent to the proposed five percent. Such suspension may be extended for a minimum of two years subject to the approval of the Department of Finance. De Venecia, chairmanof the House Committee on Creative Industry and Performing Arts, filed the bill noting that the local movie industry is in grave danger as evidenced by the dismal performance of the recent Metro Manila Film Festival, which recently returned movies to the local cinemas.
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