Mini budget: Foreign plays, celebrities in TV ads to attract heavy tax
- By Web Desk -
- Dec 31, 2021
ISLAMABAD: A day after the government tabled the Finance (Supplementary) Bill 2021 or the “mini budget” in the National Assembly, Minister for Information and Broadcasting Fawad Chaudhry tweeted Friday that the bill doesn’t envisage any tax on cinema and the import of machinery for film production.
Also Read: What will get costlier after mini-budget?
However, he added, heavy tax has been imposed on foreign content and TV advertisements featuring foreign celebrities. The move is aimed to protect Pakistan’s film industry and artists.
فنانس ترمیمی ایکٹ میں جہاں ایک طرف سینما اور فلم پروڈکشن کی مشینری پر ٹیکس نہیں ہے وہیں غیرملکی ڈرامہ درآمد کرنے اور اشتہارات میں غیرملکی ماڈلز لینے پر بھاری ٹیکس عائد کیا گیا ہے اس کا بنیادی مقصد پاکستان کی فلمی صنعت اور فنکاروں کو تحفظ فراہم کرنا ہے
— Ch Fawad Hussain (@fawadchaudhry) December 31, 2021
On Thursday, Finance Minister Shaukat Tarin introduced in the National Assembly the Finance (Supplementary) Bill 2021 and the State Bank of Pakistan (SBP) Amendment Bill 2021.
Also Read: Ruckus in NA as govt tables supplementary finance bill
The finance bill proposes amendments in income tax, sales tax and federal excise duty to impose Rs375 billion taxation measures and withdraws the Rs343 billion sales tax exemption.