FTimes – STT Report, Oct. 20
Newspaper subscription fees became subject to VAT in 2012, and since then the tax rate has been at 10 per cent.
Rinne in an interview told the daily that the tax break could be made possible at the moment so as to give newspapers more time to adapt to the transformation witnessed in media.
The finance minister said he is considering assigning the matter to the ministry’s officials.
“It has to be found out whether something of a quick measure can be done to refresh the domestic demand and also through newspaper subscription rates,” said Rinne.
He admitted that he had suggested the proposal during the budget session and to other parties but he did not receive any response.
The changes in newspaper VAT was reflected immediately on subscription fees.
