BANGKOK, 11 May 2016 – The Cabinet has accepted the principles of a cash-back offer for foreign movie production in Thailand that has been proposed by the Ministry of Tourism and Sports, but has ordered the Ministry of Finance to reconsider the cash-back ratio for appropriateness, according to the spokesman.
The government spokesman Maj Gen Sansern Kaewkamnerd revealed that the Cabinet has appointed the Ministry of Finance to find the appropriate ratio of cash-back offer to foreign movie productions in Thailand as proposed by the Ministry of Tourism and Sports.
The initial offer as proposed involves a 15 percent cash-back offer to foreign movie production with more than 30 million baht spending in Thailand, and the additional 5-20 percent cash-back for such production which uses post-production services in Thailand.
The Deputy Prime Minister responsible for the Ministry of Tourism and Sports Gen Tanasak Patimapragon has said he will be attending the Cannes Film Festival in France, at which he will promote Thailand’s offer to attract movie production companies to film in Thailand in order to generate more revenue to the country.
A similar cash-back offer currently being offered by Malaysia is at the rate of up to 30 percent.
However, Minister of Industry Atchaka Sibunruang has revealed that the Board of Investment (BOI) is now offering tax benefits for foreign film productions in Thailand, which comes with a requirement for the company to be registered as a Thai company, which causes inconvenience, while the Revenue Department cannot offer tax exemption schemes to any specific industry.
