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Promoters beware!

The Barbados Revenue Authority (BRA) has issued a reminder to all promoters of public entertainment events such as fêtes, shows and Foreday Morning Jam and Grand and Junior Kadooment bands that they must receive written permission from the Revenue Commissioner before staging their events.

Revenue Commissioner Margaret Sivers

Revenue Commissioner Margaret Sivers

In a notice yesterday BRA also said promoters were required to register their events at the Revenue Management Department on the Third Floor of the Treasury Building, Bridge Street, St Michael.

“The registration process requires promoters to complete a declaration form with the particulars of their events or bands. As such, it is imperative that these forms be completed and submitted to the Department at least 21 days prior to the event, while permission letters will be available for collection seven days before the event,” the notice said.

“Promoters should note that if they are utilising the services of non-resident performers, withholding tax of 25 per cent must be paid on the gross income being paid to those individuals. In such cases, promoters should make sure to also submit the contract.

“In addition, promoters who are using tickets for entry to their events should bring them to the Department as early as possible so that they can be stamped and processed in time for the event.

“Promoters are also reminded that payment to the amount equal to five per cent of the value of the costumes and tickets printed for that entertainment, or such other amount as the Revenue Commissioner may determine, is due within seven days of the staging of their events. Proper accounts and receipts are required by the BRA.

“Persons should also note that holding events without permission may result in a fine of $10,000 or imprisonment for two years or both,” BRA added.

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