By Adedapo Adesanya
The Lagos State Government has disclosed that all audio and visual contents produced and sold within the state shall attract the payment of five per cent tax each.
This was disclosed by the Lagos State Film and Video Censors Board (LSFVCB) at the unveiling of a platform by the Performing Musicians Employers Association (PMAN) and Lafrique Promedia, to track and generate revenue for entertainers.
According to the Executive Secretary of the board, Mr Bamidele Balogun, the state has also issued a 30-day notice on content producers in Nigeria to duly register their contents with the body.
“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,” he said.
The LSFVCB Executive Secretary said that violators of the registration would face severe sanctions by the board, calling for the cooperation of stakeholders to achieve the goal.
“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.
This move has been touted as part of efforts by the Lagos State Government to aggressively generate revenue in the state but has faced criticisms from different parties who consider it as a wrong move capable of stifling creativity, considering the current disruptions brought about by the pandemic.
