bourne-legacy

The Philippines may be the next country to offer production incentives to runaway productions.

Philippines Sen. Juan Edgardo Angara is promoting the Fostering Investment through Local and International Movies (Film) Act, which would boost local film productions and film-related tourism by offering tax rebates of 20% to 40% to films that shoot in the diverse country.

The last major Hollywood film to shoot a large part of its production in the Philippines was “The Bourne Legacy” (pictured), the fourth installment in the Bourne franchise, which lensed in Manila in 2012.

“Recognizing the potential of international and local motion picture production to create jobs, grow the economy, and raise the nation’s international profile, offering production tax incentives and providing additional benefits are necessary steps we ought to take to seize this new opportunity as levers for growth and development,” Angara said.

The bill offers a 20% rebate on qualifying spending to feature films, TV shows, movies of the week and miniseries. The rebate doubles to 40% if at least half of the film is shot in an area that has been hit by a natural disaster.

While incoming productions are unlikely to have Philippines revenues large enough to make direct use of the tax break, significantly, the tax rebates can be re-sold to local tax payers, thus allowing the production to enjoy the incentive.

The Film Development Council would administer the rebates.

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