(CTN News) – A 5-year personal income tax exemption has been approved for foreign film stars who earn income from foreign movies shot in Thailand.
A government official revealed the government wanted to attract more film crews and expected the movie industry to generate 17.5 billion baht in five years.
A Deputy Spokesperson for the PM, Ratchada Thanadirek, says the government hopes movie investors will take advantage of the income tax exemption in order to make Thailand a more attractive film-shooting destination.
Thailand earned an average annual income of about 3.5 billion baht from foreign film crews between 2017 and 2021, according to Ratchada. More than 5 billion baht were generated from the industry last year.
In the past, Thailand has offered several financial incentives to the film industry, including a cash rebate of up to 20 percent of costs for film crews. However, foreign stars still had to pay personal income tax in the past.
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