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Avanzado said the payment of equity fees intends to regulate the influx of foreign artists in the country. While he said he respects “cultural exchange in the globalized world,” “Fillipino artists need to be given preferential rights over any foreign act.” Mark Alciso, General Manager for Filipino Society of Composers, Authors and Publishers, said in 2014, at least 75 percent of local revenues generated were paid for foreign performers at P35 million. Meanwhile, only 25 percent or P12 million were paid for local artists. “This shows that the play of foreign works is really predominant,” Alciso said. Paredes said the payment of equities seeks to compensate local performers who were displaced of their audience due to the performance of foreign artists. But each foreign performer only pays P5,000 per act as stated in a memorandum of agreement with the Bureau of Immigration signed in 1989, Paredes said. “So if Mariah Carrey comes here and earns $500,000, we can only collect P5,000,” Paredes said. Pangasinan Rep. Kimi Cojuangco, who chairs the committee, said the amount is incredibly low as equity fees for internationally famous musicians.
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