Thursday, June 8, 2023

The filmmaker Pinky Pintor clarifies that the Film Law is profitable

The Law 108-10 “Promotion of the film industry in the Dominican Republic” establishes that producers covered by article 34 (incentives for those who invest in local films) attract investors. These executives finance a part of the budget approved by the Directorate General of Cinema (DGCine) and as a result, the State deducts up to 100% of the income tax (ISR) to be paid by the company during that period, as long as it does not exceed 25% of its taxation. (ATTACH LAW).

This week elDinero published the work “The sustainability of Dominican cinema collides with the recovery rate”, in which he explains the profitability of the Creole feature films against your investment.

“The Law is currently profitable and leaves a sufficient profit margin to be able to continue making local cinema. The income that the country receives through article 39 more than covers what is invested in article 34”, says the filmmaker Jose Enrique Painter.

During 2022, 29 projects were dominican movies which generated income of RD$101.5 million from the sale of 363,665 ticket offices. This is equivalent to 8.2% of the budget approved by the Directorate General of Cinema (DGCine), which totaled RD$1,237.8 million.

In addition, he stressed that the income generated by foreign productions that benefit from article 39 of the Film Law cover the expenses incurred in local films. He affirmed that “no” the profitability of a film with private investment is the same as a film with public financing.


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