Thailand Gives Tax Breaks for Foreign Film Productions to Attract More Shoots

Thailand is taking steps to attract more foreign film productions to the country by enhancing its tax incentives. The Thai government has approved modifications to the tax incentives and standards to encourage foreign film shoots. The goal is to boost filming activity and align with the government’s plan to increase revenue and competitiveness and stimulate economic growth.

Currently, Thailand offers a 15% cash rebate for every 50 million baht spent on a movie shoot. The cash rebate program has been improved to 20% of the 100 million baht spent on film shoots, with the option of a further 10% rebate for those who use Thai staff, highlight Thai culture, and film in less touristy areas. The limit for the cash rebate has been raised to 150 million baht.

The government spokesperson, Traisuree Taisaranakul, stated that the government considers it imperative to revise the tax incentives and requirements to attract foreign film productions as other countries have become more appealing with their incentives. The cabinet made the decision during a meeting on Tuesday and agreed to modify the tax incentives and standards to make Thailand a more attractive destination for foreign film shoots.

Foreign film studios that hire local employees, display Thai culture, and film in less touristy provinces are eligible for an additional 5% cash rebate, with a maximum rebate limit of THB 75 million baht. The revised tax incentives aim to provide an added incentive for foreign film studios to engage with the local community and showcase Thai culture.

The Thai government’s decision to enhance tax breaks for foreign film productions aligns with its plan to increase revenue and competitiveness, enhance the film industry, and stimulate economic growth. By attracting more foreign film productions, the government aims to create job opportunities, support local businesses, and showcase the beauty and culture of Thailand to a global audience.

SOURCE: Pattaya Mail

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