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Single-screen Theatres are exempted from property taxes – Karnataka

 

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Karnataka has approved a full property tax exemption for single-screen cinemas for the 2021-22 financial year.The Karnataka State Film Exhibitors Association (KSFEA) mentioned that the theater owners suffered heavy losses and the cinemas were closed for more than 14 months due to the Covid-19 pandemic, which began and ended in March. At the time, no one was watching a movie, and many cinemas were on the verge of collapse.

Following the release of a comprehensive missive from the Prime Minister of the KSFEA, the officials were ordered to issue an immediate estate tax exemption order. Karnataka has 630 single screen theatres. Cinemas haven’t reopened for a month or two last year after the first screenings since the first wave of the pandemic. Despite the opening, the theater occupied only half of the seats. As a result, the cinema was able to afford the losses. In Accordance with government policy, cinemas can last from one to two months at 50% occupancy.



 

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