GRA issues reminder on tax obligations for entertainment events

The Gambia Revenue Authority (GRA) has issued a reminder to taxpayers and the public that income tax applies to all entertainment events organized locally or internationally, affecting both promoters and artists.

In a press release, GRA clarified the tax obligations for event promoters and artists, both local and international. Promoters are required to pay income tax in line with the normal tax regime, which includes quarterly payments, annual declarations, and final payments at the end of the year.

For artists or musicians, the tax obligation varies based on whether they are local or international. Promoters are required to withhold tax from the gross amount due to the artist and remit it to GRA. Local artists are subject to a withholding tax of 10%, as stipulated under Section 89(3) of the Income & Value Added Tax Act 2012. Meanwhile, international artists face a withholding tax of 15%, in line with Sections 11 and 92 of the same Act.

GRA also warned that failure to withhold or remit the required tax is an offense under Section 95 of the Income & Value Added Tax Act 2012. Promoters who fail to comply will be held personally liable for the tax, as well as penalties and interest, in accordance with Sections 231 and 229 of the Act.

“All promoters are strictly advised to comply with this legal requirement to avoid enforcement of the full force of the law or disruption of their event by the GRA,” the statement read.

The GRA emphasized its commitment to collecting revenue for national development, urging all stakeholders to adhere to the tax laws.