China to Boost Local Films With Tax Break1 min read
Reading Time: < 1 minuteChina is to give its film industry a boost over Hollywood with the introduction of a tax break reward scheme for cinema operators. Currently cinemas collect a 5% tax on all ticket sales which is paid into the Central Movie Special Funds. However, cinemas which achieve two thirds of their revenues from Chinese films will be able to keep half of the tax, the Xinhua news agency reports. That is equivalent to a 2.5% incentive.
The National Film Industry Development Special Fund Management Commission will only allow the rebate to those cinemas which have a clean record and have not participated in box office rigging, Xinhua said.
via: Variety
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