Actor, Ramsey Noah, says the Federal Inland Revenue (FIRS) should come up with a viable taxation structure to keep Nigeria’s film industry from collapse, according to him, despite the massive contribution of the film industry to the nation, taxation is frustrating the sector’s growth.
The veteran Nollywood actor said this while speaking as a panelist at the tax forum for start-ups and SMEs in Abuja, He said:
“Taxation is inevitable. I support it, but right now Nollywood is heavily taxed. The equipment we use, whether old or new are heavily taxed. The industry is not yet self-sustaining. Yet we are slammed with taxes. The practitioners are taxed, the distributors are taxed. The Bank of Industry (BOI) pumped some money to expand the horizons of cinemas in Nigeria, quite commendable but it’s still too small.”