Published May 12, 2021, 9:17 AM
The film industry has sought a declaration of tax holiday as it reportedly lost some P16 billion because of the current coronavirus disease (COVID-19) pandemic.
During a public hearing by the Senate economic affairs committee, lawyer Josabeth Alonzo, corporate secretary of the Philippine Motion Picture Producers Association of the Philippines, said their financial losses started in March 2020 because of quarantine protocols.
The association said the film industry has 300,000 workers and that it remitted P13 billion to the economy in 2019.
. The Metro Manila Film Festival, on the other hand, earned P25 million last year compared to its P1 billion earning in 2019.