Media and entertainment tax is a type of tax that is collected from associated domains of the television and film industry. Just like other taxes, media and entertainment tax varies a lot from country to country. The percentage of these taxes is may differ in different states. This particular type of tax applies to all entertainment related services.
Media and entertainment industry is now considered a growing industry. This particular industry generates a high amount of revenue hence supporting the overall economy. With the growth curve of the media industry, it is imperative for any country to implement media and entertainment tax. The media industry is now termed as a digital industry that has influenced many smaller industries.
Media and entertainment are now turned into a famous platform. It is considered as a multi-million dollar industry. Like other taxes, there are tax slabs defined in order to calculate the amount of tax. There are some exemptions available in media and entertainment tax. But these exemptions vary a lot with the amount and the type of revenue involved. Media and Entertainment Tax is a type of indirect collection that is broadly charged by following sub-domains:
1. Film content
2. Media rights
3. Entertainment Industry
4. Broadcast services
5. Multiplexes and Film Production Houses
7. Print, media
9. DigitalHire Media and Entertainment Tax Professionals