The Tamil Nadu government has reduced the Local Bodies Entertainment Tax (LBET) from 8.6 per cent to 4 per cent.
Film Employees Federation of South India (FEFSI) thanked and expressed their gratitude to MK Stalin, Chief Minister of Tamil Nadu. They also thanked Deputy Chief Minister Udhayanidhi Stalin and Minister for Tamil Development and Information MP Saminathan.
The revised order, which was issued under the Tamil Nadu Local Authorities Entertainments Tax Act, 2017, will be reflected in the ticket pricing. Earlier, local body tax was priced at 8.6 per cent.
This move is expected to increase footfall in theatres and reduce the pressure that producers and exhibitors have been facing. The film industry has been struggling financially due to rising production costs.
Many producers and distributors welcomed this decision and expressed their relief.
