Heavy taxes will be imposed on channels airing foreign plays and on TV Advertisements which feature foreign celebrities.
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.
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.
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.
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.