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Artists+get+tax+concessions+from+new+Inland+Revenue+Law
Sunday, 24 September 2017 - 12:48
Artists get tax concessions from new Inland Revenue Law
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The Ministry of Finance says that profits up to Rs. 500,000 earned by artists will be exempted from tax under the new tax law.

Also, profits of sole proprietorships will be exempted from tax up to Rs. 500,000. This will effective from 01st of April 2018.

The Ministry of Finance said that instead of tax relief and exemptions given to artists thus far, they would be brought under the standard tax structure as per the recently approved act.

The previous tax system had been complex and taxes imposed illogically were causing anomalies in incomes.

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