Cinema industry to get more tax relief

2021-01-14 at 17:20

The government has decided to grant tax concessions to develop the domestic cinema industry.

During a recent discussion, those involved in the cinema industry had requested the Prime Minister to grant concession in order rebuild the industry that has been battered by the COVID-19 crisis.

Accordingly, Prime Minister Mahinda Rajapaksa as the Minister of Finance has agreed to slash several levies.

Taxes imposed during the importation of equipment to produce films and screen them will be removed.

Furthermore, income generated through the screening of movies and for funds spent on producing films will be slashed.

The new tax programme will be implemented through the National Film Corporation and all professionals can apply for the grant through the NFC.