Thailand Doubles Cash Rebate Cap To $4.4M, Considers Increase To 30%; Local Studios Set To Expand As More Productions Shoot On Stages
31.03.2023 - 06:05
/ deadline.com
Thailand’s government has doubled the cap on its production incentive to THB150M ($4.4M), while an increase in the cash rebate it offers to 30% is also being considered.
The move comes as major projects including HBO’s The Sympathizer are shooting in Thailand, while further projects such as the third season of The White Lotus are reportedly heading to the country later this year.
Thailand currently offers a cash rebate of 15% to foreign productions shooting in the country, with a further 5% available based on a cultural test. The maximum rebate per production is capped at THB75M ($2.2M).
In February, Thailand’s cabinet approved an increase in the incentive to 30% of qualifying spend, which is currently being considered by the treasury department. The doubling of the cap to $4.4M has been confirmed. Local industry sources say the final decision about the increase of the rebate is likely to be announced at the Cannes film festival in May.
Last year, Thailand’s government also agreed to waive the personal income tax that it collects from foreign talent shooting in the country for a period of five years.
Meanwhile, local studios and facilities are exploring expansion plans in anticipation of bigger productions heading to Thailand following the changes to the incentives, while local property developers are looking at building new studios.
Speaking at a workshop organized by the Motion Picture Association (MPA), Bangkok-based facility Studio Park said it’s planning to expand its existing five sound stages with additional, larger stages, and is also exploring the addition of a Virtual Production (VP) volume.
Studio Park acting director Vara Vilaivan described how Netflix’s Thai Cave Rescue constructed 13 sections of cave