MANILA, Philippines— The country’s film industry, which employs about 300,000 people, is calling for a tax holiday after incurring around P16 billion in losses since the pandemic hit the country last year.
Despite earning P13 billion in 2019, Atty. Josabeth Alonzo, corporate secretary of the Philippine Motion Picture Producers Association of the Philippines (PMPPAP), said that the local film industry has been losing P16 billion since March.
“In the year 2019, the entertainment industry, particularly movies, we’re able to generate P13 billion in income for the country,” Alonzo told the Senate committee on economic affairs on Tuesday.
“But from mid-March of 2020 up to the p…
Keep on reading: PH film industry loses P16B to pandemic, raises cry for tax holiday