Art & CultureBusiness

Lagos introduces 5% tax on films, others

Lagos Government has introduced a five per cent tax on every film as well as other audio/visual contentd produced or sold in the state.

Speaking during the official unveiling of a platform by the Performing Musicians Employers Association (PMAN) and Lafrique Promedia, to track and generate revenue for entertainers, the Lagos State Film and Video Censors Board (LSFVCB) also issued a 30-day notice on content producers in Nigeria to duly register their works with the body.

Accordiing to Executive Secretary of the board, Mr Bamidele Balogun, violators of the registration would face severe sanctions by the board, calling for the cooperation of stakeholders to achieve the goal.

“The board will advise practitioners involved in production, sale, distribution of audio and visual products to register their products through the board’s authorised agent within 30 days.

“Practitioners and stakeholders are also informed that henceforth, all audio and visual contents produced and sold within Lagos State shall attract the payment of five per cent levy on each item.

“This exercise will, however, assist the Lagos State Government in policy formulation, with regard to planning and funding for the sector.

“All practitioners and stakeholders in the entertainment sector within the state are advised to comply with this directive and cooperate with the authorised agent of the board,” he said.

According to Balogun, the move is part of efforts by the state government at exploiting its internally generated revenue capabilities.

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