The new government aims to build a global-standard 'creative economy' by leveraging the talent and intellect of the country's young generation. To enhance the quality of music used in digital media and support creative music production, the existing 5% regulatory duty on the import of musical instruments like guitars, pianos, and violins, along with necessary parts, has been withdrawn. This may lead to a reduction in the prices of these instruments.
Social media content creators have been granted a special tax exemption. Many have adopted content creation on social media as a profession. The 15% VAT imposed on the services provided by content creators and freelancers has been withdrawn.
To elevate the technical aspects of film and creative media to international standards, the import duty on high-tech cinematography cameras and spare parts for cinematography cameras and projectors has been reduced from 15% to 5%.
