Thailand on Tuesday stepped up its film incentive scheme, approving tax breaks for all foreign actors working in films or TV shows in the country. The new measure will remain in effect for at least five years.
Thailand has had an incentive scheme since 2017 to attract international film production in the country. Existing measures include a 15-20% cash reduction on all country production costs, up to a maximum of 75 million baht (approximately $2.1 million at current exchange rates). However, foreign actors were previously obliged to pay taxes on their income in Thailand while working in the country, in addition to the tax obligations they could have had at home (USA requires that its citizens pay taxes regardless of where they work and live. In the world). The new exceptions are expected to further ease the way for global producers to choose Thailand as the primary filming location for their projects.
Thailand’s strong local production base and impressive natural and urban environment make it a popular destination for foreign filmmakers. Garrett Edwards (Rogue One: A Star Wars Story) is currently in production in the country with this big-budget sci-fi True loveWith John David Washington and Gemma Chan. Other important projects that have been implemented in the country include Prayer Before Dawn, Hangover Part II, Coast, Impossible, No Escape And Chinese blockbuster lost in thailandBetween others.
Thai government spokeswoman Racha Dnadirek said on Tuesday that local revenue from foreign film projects has continued to grow in recent years, reaching an average of US$100 million (3.5 billion baht) a year. between 2017 and 2021. Last year, however, the revenue generated abroad reached US$11.3 million (just 400 million baht) amid ongoing challenges related to COVID.
Source: Hollywood Reporter

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