Local Film Producers To Enjoy Rebate On Cost Of Film Production - Minister

KUALA LUMPUR, March 16 (Bernama) -- Films produced or filmed in Malaysia will receive a rebate of 30 percent, of the cost of production after being audited by the government, as an incentive to boost the local film industry. Information Communications and Culture Minister Dr Rais Yatim (third from right) said the decision, an incentive from Prime Minister Najib Razak to the film industry, was approved at the National Economic Advisory Council (NEAC) meeting last week. He said the minimum amount that would be considered for such rebate are films that cost RM5 million (US$1.64 million) (foreign films filmed in Malaysia) and RM2.5 million (around US$800,000) for locally produced films. "This means for every RM5 million spent, there will be a rebate of 30 percent to the film maker. As for local film makers who spend RM2.5 million, they will also be able to enjoy the 30 percent return," Rais told reporters after launching a programme for the Transformation of Local Film Industry organised by the National Film Development Corporation Malaysia (FINAS) here Thursday. (photoBERNAMA) MALAYSIA