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Film Production: NFC Partners FIRS on Tax Incentive

Source: http://nigeriafilms.com
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Tahe Nigerian Film Corporation (NFC) is collaborating with the Federal Inland Revenue Service (FIRS) to provide a healthy tax incentive that would encourage film production in Nigeria.

The Managing Director of NFC, Afolabi Adesanya, disclosed this yesterday in Cannes, France at a workshop on Tax Regime and Investment Opportunities in Nigeria.

According to the NFC boss, the workshop was designed to stimulate interest in production and co-production activities in the country, “We don't have any tax policy on film industry in Nigeria and I think this initiative would stimulate good interest in film production.”

Adesanya assured that the initiative when in place would stimulate the economy and develop the film sector, added that, ìthe workshop is aimed at providing opportunity for NFC and FIRS to woo film investors and to assure that there exist a number of incentives and a flexible tax regime that will permit production and co-production in Nigeria.”

Speaking further Afolabi said the forum was also aimed at educating our foreign counterparts of the possibility of working in Nigeria noting that the country had all it takes to support the production of films.

He called on filmmakers across the world interested in producing films in Nigeria to be part of the initiative and indicate tax incentives they think was workable.

Although FIRS boss who was supposed to deliver a lecture on tax incentives was not presented at the event. The forum witnessed stimulating sessions and had in attendance filmmakers from Nigeria, Germany, UK and Kenya.

Also speaking at the event, Creative Director, Valentine Charles, spoke on the forthcoming ION Film Festival in Lagos.
Charles disclosed that the festival would be used to celebrate Nollywood that now ranked as second largest film producer in the world according to UNESCO report.

The festival expected to hold from December 2-6 would feature screening of different films including feature, animated and documentaries among others, ìThere will also be stimulating workshops and debate among renowned producers and directors,î she hinted