K'taka hotels, resorts get 50% property tax relaxation

Karnataka hotels, resorts get 50% property tax relaxation

C P Yogeshwar said the government had decided to relax the property tax in an effort to rejuvenate the tourism industry

Representative image. Credit: iStock Photo

In a significant move, the government has announced a 50 per cent relaxation on property tax for hotels, resorts, restaurants and amusements parks for the financial year 2021-22.

In an official statement on Thursday, Tourism Minister C P Yogeshwar said the government had decided to relax the property tax for hotels and resorts for the financial year 2021-22, in an effort to rejuvenate the tourism industry in the state, which had seen a slump owing to Covid-19.

The 50 per cent relaxation on property tax for the hospitality industry comes in addition to waiver given for electricity tariff for the months of April, May and June.

The government has also given a concession on excise licence and other fees, allowing to pay only 50 per cent of the fees at this point, while the rest can be paid before December 31, the statement read.

That apart, Rs 5,000 financial aid will be given to tourist guides registered with the tourism department. The money will be directly credited to their bank accounts, the minister said.

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