Wonderla Holidays thanks TN govt for tax exemption

The management of amusement park company Wonderla Holidays Ltd called on Tamil Nadu Chief Minister K Palaniswami on Saturday and thanked him for the government's decision to exempt entertainment tax for the park the company plans to build near here. Managing director of Wonderla Holidays Ltd Arun K Chittlappilly and its senior officials extended their gratitude to the Chief Minister for the government's decision to exempt the tax, sources said.

Industries department principal secretary N Muruganandham and senior government officials were also present on the occasion. Wonderla Holidays Ltd had planned to establish the park at an estimated cost of around Rs 350 crore.

The land for the project has been purchased, but it was delayed following the levy of 10 per cent entertainment tax by the state government, over and above the goods and services tax, Wonderla had said in a notification to stock exchanges recently. Later, the Tamil Nadu government agreed to not impose entertainment tax for five years from November 1, 2019, the notification said.

The company said it would soon begin construction of the project subject to approval by the authorities and added that around 1,000 new jobs would be created, it said..