Taking a major decision to attract foreign filmmakers, the Government of Thailand has decided to increase the subsidy on the production cost.
Image Credit source: Instagram
thailand The government has further increased the subsidy on shooting to bring foreign filmmakers to the country. The cabinet there has decided that if a film or series is shot in Thailand, now up to 30 per cent subsidy will be given on the production cost. Earlier this subsidy was up to 20 per cent and in which a rebate of up to Rs 18.5 crore was given.
Under the scheme that is being run now, the government of Thailand gives a rebate of 15 percent on production to foreign filmmakers who come to shoot in the country. Apart from this, an additional 5 percent discount is given to those who employ a proportion of local crew members, promote Thai culture and shoot at unknown locations. The exemption limit in this scheme was 2.25 million dollars i.e. about 18.5 million rupees.
Now, in the new scheme that the Government of Thailand has come up with, the 15 per cent discount has been increased to 20 per cent, while the 5 per cent discount has been increased to 10 per cent. Now the subsidy limit has also been increased. Now a filmmaker will be entitled to an exemption of up to $4.50 million i.e. Rs 37 crore 15 lakh 87 thousand 725 during the shooting.
Why did the government take this decision?
Government spokesman Taisaranakul said that these changes have been recommended by the Ministry of Tourism and Sports. He has told that the cabinet has given green signal to his proposal because other countries are giving more good subsidies in this sector and it was necessary to remain in the competition. Let us tell you that last year the government of Thailand had decided not to impose income tax on external talent for 5 years. Thailand is a major hub for the production of foreign films. In such a situation, filmmakers will benefit in a big way from this decision of the government.
There was a huge decrease in revenue
According to the Government of Thailand, from the year 2017 to 2021, he had earned $ 99.1 million (8,18,29,89,255) due to the shooting of foreign films. But in the year 2021, due to the tough decisions taken due to Corona, the government exchequer was greatly affected and the government revenue came down to $ 11.3 million (Rs 93,30,75,465).
: Language Inputs