Karnataka Government Introduces Welfare Bill Imposing Cess On TV Channels, OTT Platforms, Multiplexes
Date
7/26/2024 5:00:46 AM
(MENAFN- Live Mint) Karnataka on July 26, 2024, passed the Karnataka Cine and Cultural Activists Welfare Bill, as per a report by CNBC-TV18. The bill is aimed at bolstering support for the entertainment sector by introducing a new cess on TV channels, OTT platforms, and multiplexes operating within the state. This legislation imposes a cess of up to 2% on the revenues of TV channels and OTT services derived from Karnataka.
The bill stipulates that this cess will be applied to cinema tickets and subscription fees, and it must be paid based on the revenue generated within the state. Additionally, the bill requires companies to remit the cess by the 9th of every month. This initiative is designed to provide financial aid to cine and cultural activists, thereby enhancing the welfare of individuals working in Karnataka's cultural industries, as per the report.
This is a developing story keep checking for further updates.
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