The entertainment industry, currently at peak of season, has been greeted with an immediate knock at the door by the taxman.
A statement from the Gambia Revenue Authority over the weekend stated that all entertainment events organised locally or internationally are subject to income tax payment.
According to the release, the tax liability is imposed on both the promoter of the event and the artist, local or foreign.
“For the promoter of the event, the income tax shall be paid in accordance with the normal tax regime which is a quarterly payment obligation, an annual filing declaration and final payment obligation at the end of the year, while for the artist or musician, local or foreign the tax shall be withheld by the promoter and paid to the GRA on their behalf. It is important for all promoters to note that failure to withhold tax as stated above or failure to remit tax withheld is an offense under section95 of the Income and Value Added Tax Act 2012, in which case the promoter shall be held personally liable for the tax penalty, and interest in accordance with section 231 and 229 of the income and Valued Added Tax Act 2012 respectively.”
