By Patricia Uyeh,
According to Nollywood actor, Ramsey Nouah, even with the immense contribution of the film industry to the nation, taxation is hindering its growth.
He said this while speaking as a panelist at the tax forum for start-ups and SMEs in Abuja.
The actor urged the Federal Inland revenue (FIRS) to come up with viable taxation policies to prevent the film industry from breaking down.
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.”
Photo credit: Instagram@ramseynouah