Colombo Slashes Entertainment Tax

COLOMBO (News 1st); The Colombo Municipal Council (CMC) has approved a proposal to reduce the entertainment tax imposed on local performances.

The CMC announced that the proposal to reduce the tax has now been formally approved, with the relevant gazette notification also having been issued.

Under the revised structure, the entertainment tax applicable to local performances will be reduced from 12 percent to 7 percent.

According to the Colombo Municipal Council, the decision is intended to strengthen Sri Lankan artists and support the growth of the local cultural and entertainment sector.