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Friday May 14th, 2021
Business

Sri Lanka PM plans tax concessions for film industry

ECONOMYNEXT – Sri Lanka is planning to give tax concessions to the film industry involving import duties and income tax relief, Prime Minister Mahinda Rajapaksa had said following a meeting with the film industry representatives.

A decision was made to give import duty concessions to equipment imported for the film industry, the Prime Minister’s media office said.

The possibility to giving tax allowance for expenditure to produce a film and to make income from exhibition tax free was also discussed.

Cinema artistes, film producers would be able to get the concessions by applying through the National Film Corporation.

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Sri Lanka re-nationalizes film distribution under 1971 agency

Treasury Secretary S R Attygalle and Chief of Staff of Prime Minister Rajapaksa, Yoshitha Rajapaksa had been at the meeting. Prime Minister Rajapaksa is also the finance minister. (Colombo/Jan14/2021)

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