Senator Robinhood "Robin" C. Padilla is seeking the exemption of Filipino-owned local productions from paying amusement tax as well as the granting of tax holidays to the film and music industries. Padilla, a veteran of the movie industry, noted in his Senate Bill 2048 (The Film and Live Events Recovery Act) that amusement tax laws impede the growth of the entertainment industry and drive up the cost of amusement services.  "Hence, it is imperative to give our film and music industries the necessary boost to thrive and recover from the pandemic and new challenges that cost them major losses while ensuring that the gains redound to local productions, thereby benefiting our people and economy," he said.  The bill exempts from amusement tax all locally produced creative materials which copyright is owned by Filipinos and from local productions with at least 10 percent equity owned by Filipinos.  It also grants the film and music industries a tax holiday of two years.  The bill likewise lowers the cap for amusement tax collection under the Local Government Code to five percent from the current 10 percent.  In his bill, Padilla lamented the taxation on filmmakers and producers is "restrictive and burdensome" to the detriment of our labor productivity, cultural exhibition and local development.  He noted none of the locally produced films in 2022 hit P10 million in gross sales, adding the existing taxes require the films to gross 270 percent of production costs to just break even.  The bill exempts from paying amusement taxes locally produced film productions, musical plays, operas, concerts, dramas, recitals, painting and art exhibitions, flower shows, musical programs, and literary and oratorical presentations - provided that the copyright of such locally produced work is owned by Filipino/s and that at least 10 percent of the equity of such local productions is owned by Filipinos as certified by the Department of Trade and Industry (DTI) or the Securities and Exchange Commission (SEC).  Proceeds from the amusement tax shall be allocated for programs, activities and projects in the sectors and industries involving the locally produced work. The remaining proceeds shall be shared equally by the province and municipality where the amusement places are located.  Within two years from the effectivity of the measure, the power of local governments to levy an amusement tax is suspended with an extendible period of at least two years subject to the approval of the Department of Finance (DOF).