Tuesday, March 5, 2024

Film Industry Made Tax Free, Cinema Income Exempted from Tax for 10 Years: Maryam Aurangzeb

Information Minister Marriyum Aurangzeb has announced that film producers in Pakistan will not have to pay income tax. This decision recognizes the lack of growth in the industry between 1970 and 2000.

During her speech at the National Amateur Film Festival Awards, she pointed out the lack of new ideas, innovation, and investment during that period.

While the film industry has seen a revival since 2000, there are still challenges due to the limited number of theaters and expensive multiplexes.

Marriyum Aurangzeb also mentioned that the PML-N government introduced the country’s first film policy in 2017, which aimed to promote movies, music, and dramas. Currently, the film industry enjoys a tax-exempt status, and the government has established a Film Finance Fund of 2 billion Pakistani rupees to provide financial assistance.

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