Jan 14, Colombo: In connection with the decision taken to promote the local film industry, it was decided yesterday (13) to grant back the tax concessions given by the Prime Minister Mahinda Rajapaksa during his tenure as President and canceled by the previous government, Prime Minister’s Office said.
Secretary to the Ministry of Finance S.R. Attygalle and Prof. Kapila Gunawardena, Secretary to the Ministry of Religious and Cultural Affairs, Buddhasasana at a discussion held at the Ministry of Finance following have taken the decision to grant the tax concessions.
The decision was taken at a discussion held at the Ministry of Finance in response to requests made by film industry professionals to the Prime Minister Mahinda Rajapaksa at a discussion held on the 8th at Temple Trees.
Chief of Staff to the Prime Minister Yoshitha Rajapaksa and President of the Local Filmmakers' Alliance, Prime Minister's Media Secretary Rohan Weliwita also participated in the discussion.
Accordingly, imports of equipment used for film production and film screening will be granted duty relief. The discussion also focused on tax deductions for the money spent on the production of a film and tax relief on income from the screening of the film.
These tax reliefs are subject to the approval of the Film Corporation. Accordingly, all professionals in the field, including local filmmakers and producers, will have the opportunity to receive these tax concessions granted by the government by applying through the Film Corporation.