ภาษาไทยBlockbuster savings for Hollywood in Thailand
Thailand’s cabinet has passed an increased package of incentives for foreign filmmakers who choose to shoot and produce in the Kingdom, already a long-favored location among Hollywood, Bollywood and other movie makers.
Famous and award-winning movies have been filmed in Thailand over the past half century. They include The Deer Hunter, The Beach, The Man with the Golden Gun, The Hangover Part 2, Star Wars – the Revenge of the Sith, and American Gangster among many others.
The improved incentives were proposed by the Ministry of Tourism and Sports. Current incentives include an extra 5 percent rebate on top of the 15 percent rebate for every $1.5 million spent shooting in the Kingdom – if studios hire local staff, promote Thai culture and shoot in second-tier tourism provinces.
According to the Government Spokesperson, under the improved incentives, the cash rebate scheme is upgraded to 20 percent for every $3 million spent on the film shoot, with an additional 10 percent cash rebate offered to productions that hire Thai staff, promote Thai culture and shoot in second-tier tourism provinces. The cash rebate cap is raised to $4.5 million.
Last October, the cabinet waived personal income tax for foreign actors for five years, with the goal of generating more than $100 million in revenue from investment in foreign film productions.
Thailand’s appeal as a location for filming rests on its wide variety of stunning landscapes and backdrops, the high skill level of Thai film production professionals, efficient logistics, welcoming and accommodating service and affordability.
As Thailand’s economy and income levels have risen, so have the costs associated with film production professionals, logistics and other services. In addition, inflation that has hit most countries has also pushed up prices in Thailand. The cabinet, therefore, decided to approve the incentives to keep the Kingdom cost competitive.
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