The new tax breaks will benefit Thailand’s filmmaking sector and also increase tourism. Read more at straitstimes.com.
BANGKOK - The government is introducing more tax breaks and other incentives to encourage foreign producers to film in Thailand, after a Korean series sparked Thai fever with an episode set in Thailand, said deputy government spokesman Trisulee Traisoranakul.To be eligible for the tax breaks, foreign actors must appear in films produced by businesses or legal partnerships legally incorporated in foreign countries.
The new tax breaks will benefit Thailand’s filmmaking sector and also increase tourism, Ms Trisulee said. The Thai booth at the Cannes Film Festival in May drew more than 600 executives from the film industry seeking information about filming in Thailand, the ministry said. In February, the government increased rebate rates from 15 per cent to 20 per cent to 20 per cent to 30 per cent for foreign films shot in Thailand, and raised the cash refund cap from 75 million baht to 150 million baht per movie.
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