Levy on imported films to support local market
Malaysia may impose a levy on imported films in a bid to support the local film industry, which is struggling to survive in a market dominated by Hollywood and Bollywood movies, a minister said Tuesday.
Malaysia may impose a levy on imported films in a bid to support the local film industry, which is struggling to survive in a market dominated by Hollywood and Bollywood movies, a minister said Tuesday.
Culture, Arts and Heritage Minister Rais Yatim has made the proposal and told the national
Bernama
news agency that he would present it to the cabinet soon.
"This proposal will be studied together with the National Film Development Corporation. Currently, foreign films entering the country are not subject to any levy," Rais said.
The minister said the measure would encourage cinema operators to show more Malaysian films and help local filmmakers be more competitive in the market.
To fund research
If the government implemented the proposal, Rais said the tax revenue would go to fund the national film corporation's research and development.
While Malaysia's lacklustre film industry lags far behind Hollywood and Bollywood, it submitted a local film this year to the Academy Awards for the first time for best foreign film category.
The budget of the Malaysian movie, "A Legendary Love," cost a record RM20 million (US$5.3 million).


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