Sunday, April 21, 2024

VAT Office cracks down

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Complimentary tickets and costumes will no longer be free.
That’s because Government is cracking down on these “free” items by taxing promoters who hold shows and events and give away items to sponsors and friends.
At a Crop Over stakeholders’ meeting held by the National Cultural Foundation (NCF) with the officers of the Value Added Tax Division, promoters/bandleaders and other officials at the Queen’s Park Steel Shed on Monday, acting director of the VAT Division, Anthony Gittens, said everything complimentary would be taxable.
“We’ve found that some businesspeople if they want to give away $100 in items they would give the $100 and ask you to pay the $17.50 in VAT . . . but things that are complimentary are taxable and VAT is due,” Gittens said.
Reas the full story in today’s MIDWEEK NATION.

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