Syed Noor welcomes tax on foreign dramas
The import of foreign dramas had damaged the local industry, Syed Noor said.
LAHORE (Web Desk / APP): Pakistan Film Producers Association Chairman Syed Noor welcomed withholding tax on foreign dramas.
Talking to APP here on Sunday, he said the import of foreign dramas had damaged the local industry and demanded the government to levy the same tax on Indian films.
He said the federal budget 2016-17 was the best one in the given circumstances.
It may be mentioned here that Finance Minister Ishaq Dar in his budget speech had stated: "Withholding tax on foreign produced TV plays and advertisements etc – Through Finance Act 2013, a withholding tax was imposed on airing of foreign produced TV plays and serials only on landing rights channels. In order to encourage locally produced plays and to enable the local production houses to compete with the foreign productions, this withholding tax is now proposed to be collected from all TV channels airing such foreign produced content."
"It is also proposed that any person making payment for a foreign produced advertisement shall collect withholding tax at the rate of 20% of the payment," he added.
