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Rediff News  All News  » Business » Tax sops for entertainment sector soon

Tax sops for entertainment sector soon

December 20, 2007 10:50 IST
The government will soon announce a slew of tax incentives for infrastructure and technological upgrade in the TV and entertainment sector.

Speaking at an Assocham seminar of the entertainment sector, Information and Broadcasting Minister Priya Ranjan Dasmunsi announced he was negotiating with the finance minister for bringing about huge tax rebates for the film and entertainment industry based on the recommendations of various groups, which have been set up to suggest changes in taxation.

In addition, Dasmunsi also declared that strict measures would also be brought forth to curb piracy in the entertainment sector so that the film and entertainment industry does not suffer revenue losses.

He added that a group set up by the I&B ministry on piracy prevention has already given its recommendations, based on which measures would be brought about in consultation with other government departments, which would be announced by early 2008.

Ministry sources indicate that the government is considering tax incentives mainly on technology front, and  especially on the process of digitalisation.  Foreign collaborations, where domestic studios or distribution system can get high-end technologies and logistics support, might be given tax rebates in the new policy.

BS Reporters in New Delhi