Make me your Homepage
    left corner left corner
    China Daily Website

    Hollywood unpaid for movies

    Updated: 2013-08-01 11:32
    By Liu Wei ( China Daily)

    Multiple sources have confirmed that Hollywood studios have not received their share of box office receipts from films they released in China this year due to a dispute over a new tax on movie profits.

    China imports 34 foreign films a year for theatrical release, and most are Hollywood productions.

    Hollywood studios share profits from the China releases of their films with their Chinese distributor - China Film Group - and theaters that screen the films.

    The Hollywood studios used to take a share of between 13 and 17 percent, but an agreement in February 2012 between vice-president at the time Xi Jinping and US Vice-President Joe Biden increased the share to 25 percent.

    However, subsequent tax reform in China has created a 2 percent value-added tax on box office receipts. China Film Group wanted Hollywood studios to pay the tax, but the studios refused.

    According to The Hollywood Reporter, Chinese authorities had agreed that additional payments, including any taxes, would not come out of the studios' 25 percent split. But late last fall, China Film Group informed studios that it intended to pass along the tax after all.

    None of the six major Hollywood studios nor China Film Group would comment on the issue.

    The tax could cost Hollywood studios millions of dollars a year.

    The Wall Street Journal used Ang Lee's Life of Pi as an example of how the new tax would affect the studios' profits.

    The movie grossed about $91 million in China last year. Fox's share should translate to nearly $23 million. The new tax, however, would reduce Fox's take by about $2 million.

    Sources confirmed to China Daily that the six major Hollywood studios that released films in China in 2013 have not been paid their share of the revenue for their movies.

    Hollywood unpaid for movies

    The Beijing office of the Motion Picture Association of America said it will comment in several days.

    A senior insider who asked to remain anonymous told China Daily that the two sides are now waiting for results from negotiations at a "higher level".

    The insider also said that one of the reasons China Film Group will not pay the new tax is because the group fears doing so would hurt its efforts to get listed on China's stock market. The increase in the Hollywood studios' box office share since 2012 has lowered its profits, and the new value-added tax concerns the group even more.

    Chris Dodd, CEO of the Motion Picture Association of America, told China Daily in an interview in June that the institution was working on the issue by talking to China's top industry regulators.

    "Discussions are going on, and I am optimistic something will be worked out. I am satisfied we are going in the right direction," Dodd said.

    China has become the second-largest film market behind only the United States. Annual box office receipts have seen a continual rise of 30 percent since 2003, reaching 17 billion yuan ($2.77 billion) last year.

    Critic and industry observer Bi Chenggong sees little possibility that the two will quit negotiating.

    "Sitting down and talking seems the only way," he said. "The Hollywood studios need to establish a long-term foothold in such an important market. It would cost too much for them to break with China Film Group and other authorities when the film industry in China is not yet entirely market-oriented."

    liuw@chinadaily.com.cn

    8.03K
     
    ...
    ...
    ...
    无码人妻久久一区二区三区| 中文字幕第3页| 国内精品久久久久久中文字幕| 少妇人妻偷人精品无码视频| 最新中文字幕在线观看| 久久久久久无码国产精品中文字幕| 亚洲日韩国产AV无码无码精品| 日韩中文字幕在线视频| 亚洲精品一级无码鲁丝片| 日韩AV无码中文无码不卡电影| 色婷婷综合久久久久中文字幕| 午夜无码一区二区三区在线观看 | 天堂√中文最新版在线下载| 国产成人无码一区二区在线播放| 精品无码成人片一区二区98| 无码中文字幕日韩专区| 中文无码熟妇人妻AV在线| 国产午夜无码精品免费看动漫| 亚洲国产精品无码久久久秋霞2| 亚洲欧美在线一区中文字幕| 免费人妻无码不卡中文字幕系| 亚洲?V无码乱码国产精品| 18禁免费无码无遮挡不卡网站 | 在线中文字幕av| 亚洲中文字幕久久精品无码APP| 久久激情亚洲精品无码?V| 国产无码网页在线观看| 国产精品无码久久综合| 无码人妻久久一区二区三区免费 | 91天日语中文字幕在线观看| 亚洲中文久久精品无码ww16| 最近免费中文字幕MV在线视频3 | 日韩乱码人妻无码中文视频| 久久精品无码一区二区三区| 人妻少妇乱子伦无码视频专区 | 无码人妻精品一区二区三| 亚洲精品无码永久在线观看你懂的 | 99re只有精品8中文| 中文字幕在线无码一区二区三区| 日本乱偷人妻中文字幕在线| 国产成人无码AV麻豆|