Levy On Foreign Films, Drams & Coomercials!!!

[ash]

Damn!!!

  Quote

COLOMBO: The Government will impose a levy on foreign films, tele-dramas and commercials telecast on television channels from this month.

Deputy Finance Minister Ranjith Siyambalapitiya told the media yesterday that the objective was to revive the local film, tele-drama and advertising industries and protect Sri Lankan values and culture.

The levy which has been imposed by the Finance Act No 11 of 2006 was an important feature of this year's budget proposals.

According to regulations made under the Act, a levy of Rs 90,000 will be charged for every 30 minutes for each foreign tele-drama or film dubbed in Sinhala or Tamil, while the levy on other foreign films or tele-dramas will be Rs 75,000.

Television commercials made outside Sri Lanka will also be subject to a levy of Rs 100,000 for any number of telecasts within a year. However, Siyambalapitiya said that documentaries, educational programmes and children's entertainment programmes made outside Sri Lanka will be exempted from the levy.

Programmes on sports, health, international events, international awards ceremonies, international award winning films and tele-dramas and films of which the main cast are Sri Lankans will also enjoy exemption from the levy.

"Taking into account the interests of the Tamil community we also decided to exempt tele-dramas and films originally produced in Tamil from the levy," he said.

Media Ministry Secretary W.B. Ganegala said that the levy was imposed after extensive discussions with artists and other persons involved in the local industries.

"It is not our intention to prevent competition between local and foreign creations. Even countries like India have taken similar measures to improve their local industries.

The funds received from the levy will be re-channelled to a trust for the development of the our cinema, tele-drama and advertising fields."

Treasury Secretary Dr. P.B. Jayasundera told the media that President Mahinda Rajapakse has directed a re-examination of taxes imposed on the local film industry to encourage the creation of local films.

[Pericles]

  Quote

Treasury Secretary Dr. P.B. Jayasundera told the media that President Mahinda Rajapakse has directed a re-examination of taxes imposed on the local film industry to encourage the creation of local films.

Wonder if he'll keep feeling that way when the version of One Shot making fun of him comes out.

[noaim]

Would this effect the Satellite/Cable movie providers?

[isurujosh]

  ash said:

Damn!!!

shiiiite this f**** gov is screwing the middle cl***, and there seems to be no end! f*** f*** f*** f*** f***

[Bishu]

  monamonu said:

Would this effect the Satellite/Cable movie providers?

I don’t think….

[Hola]

  isurujosh said:

shiiiite this f**** gov is screwing the middle cl***, and there seems to be no end! f*** f*** f*** f*** f***

Just a reminder that Negombo voted right, but didnt made up to the total!

Let us be patient

[Watchman]

if you ask me its just another excuse by a government trying to find money to run the country. The treasury as we know is running out of money at such a rate tha in a couple of months they wont have money to pay govt workers' salaries.

i guess its gonna hit all the sitcoms and tc series' on ETV and MTV real bad... or we might get to ewatch them with tons of adverts... ohh crap!

[Pericles]

  Dilesh said:

if you ask me its just another excuse by a government trying to find money to run the country.

They wanna find the money, they should try to be more effective at collecting existing taxes.

[isurujosh]

  Pericles said:

They wanna find the money, they should try to be more effective at collecting existing taxes.

here's more bad news...(this is an interesting perspective about the new stamp duty, i quote this from a mail which was forwarded to me)...

  Quote

If you are a monthly salaried person and if you settle your credit card bill by withdrawing your money from your bank account please consider

the following.

According to the new stamp duty on credit cards, the government will charge Rs.10 for every Rs.1000 spent. So even if you spent just Rs.1/=

they will charge Rs.10/= Similarly if your bill is Rs.1250/= they will charge Rs.20/=. It's not a percentage on the amount spent rather a

slab base rate.

When you withdraw from banks, there is a debit tax of 0.1% and when you withdraw to pay the credit card bill, you are taxed 2 times, once with

stamp duty and once with debit tax. So under current situation it is much better to give cash for your transactions than using your credit

card.

Further if you pay your lease installment (probably applicable for loans as well) with your credit card this becomes worse. The govt. has

imposed stamp duty of 0.1% on receipts (only if a receipt is issued to you by the receiver), and there is a tax in your lease installment. So this will add up to 3 times taxation if you pay your installment through a credit card and then settle the credit card bill by withdrawing from

your bank account.

It's very ironic how our government thinks. While rest of the world is trying to reduce fraud and theft by introducing non-case based

transactions such as use of credit cards and on line payments, here they discourage use of credit cards. Simply pathetic.