Lagos Video Censor Board Demands 5% Tax On Content Producers.

The Lagos State Film and Video Censors Board (LSFVCB) has demanded a 5% tax on all video and audio content producers across the state.

According to multiple media reports, the Board has issued a 30-day notice on content producers to duly register their contents with the body.

LSFVCB Executive Secretary, Mr Bamidele Balogun, gave the notice while unveiling a platform by the Performing Musicians Employers Association (PMAN) and Lafrique Promedia, to track and generate revenue for the entertainers.

He stated that, “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 added that violators of the registration would face severe sanctions by the board, calling for the cooperation of stakeholders to achieve the goal.