Lagos demands 5% tax from content producers

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The executive secretary of the board, Mr. Bamidele Balogun, gave the opinion while unveiling a platform of the Association of Employers of Performing Musicians (PMAN) and Lafrique Promedia, to monitor and generate income for artists.

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

“Practitioners and stakeholders are also advised that henceforth all audio and visual content produced and sold in Lagos State will be subject to payment of a five percent tax on each item.

“This exercise will however help the Lagos State government to formulate policies, with regard to the planning and financing of the sector”, he said.

Balogun said those violating the registration would face severe penalties from the board, calling for cooperation from stakeholders to achieve the goal.

“All practitioners and stakeholders in the entertainment industry within the state are urged to comply with this guideline and to cooperate with the authorized officer of the board of directors”, he said.

Also, Mr. Obiora Osokolo, head of the board, SIAO Partners, urged producers to comply, saying the platform would go a long way in ending disputes between artists.

Osokolo said the initiative would create an enabling environment for the state government to adequately fund the entertainment industry and improve the lives of practitioners.

“I encourage producers and others in the entertainment industry to take advantage of this openness and access the platform, as it will benefit them,” he said.

Osokolo, however, commended the Lagos State government for the initiative, describing it as a good development in the right direction for the entertainment industry and stakeholders.


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