Within the gentle of an enormous enterprise loss for single display theatres, which have remained closed for many a part of final yr, the Karnataka authorities has introduced waiver of property tax for single screens. About 630 single display cinemas are set to profit from the transfer.
A notice from Division of Data and Publicity stated that the order was issued on Wednesday based mostly on an enchantment by Karnataka Exhibitors Affiliation, which had sought reduction. The exemption has been prolonged for the monetary yr 2021-22.
The notice stated that whereas the Karnataka authorities had prolonged reduction of ₹3,000 to every of twenty-two,000 staff within the movie business, the property tax waiver was given contemplating the dearth of enterprise owing to the anticipated third wave of COVID-19.
