In a big relief to Kollywood, the Tamil Nadu Government has reportedly reduced Local Body Entertainment Tax (LBET) from 8 to 4%. This is really a good move for the Film Industry, which has also requested this for many years.
This move will also help many small budgeted films apart from the biggies. Kollywood Veteran Actor Kamal Haasan has recently appealed for the reduction in the tax. And now, Film Employees Federation of South India (FEFSI) thanked and expressed their gratitude to MK Stalin, CM of Tamil Nadu.
As said, this move is aimed at increasing footfall in theatres and reducing the pressure that producers and exhibitors have been facing. The film industry has been struggling financially due to rising production costs. This will also help the upcoming film of Kamal Haasan, Thug Life, slated for release on June 5th worldwide.
