Concessions for artistes under the new Tax Act

Concessions for artistes under the new Tax Act

September 24, 2017   10:44 am

A tax concession of Rs.500,000 will be granted to the profit gained by productions of artistes,under the new Tax Act,announced the Ministry of Finance.

The net profits of the productions will be exempted from income taxes up to Rs. 500,000 after the payment of taxes and editorial fees,the Finance Ministry added.

Meanwhile, the Ministry of Finance stated that tax concessions will be granted upto Rs. 500,000 for the annual profit gained by individual and private sector business companies.

The new tax concessions will be implemetned from April 01.

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