IRD implements $1,500 tax on entertainment

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A tax on entertainment which was postponed last year has now taken effect.

The Inland Revenue Division says a $1500 flat rate will now be paid on entertainment events making $0-100,000.

A two percent tax will apply on activities making more than $100,000 and are all-inclusive.

A four percent tax will apply on all events grossing $100,000 and above and are not all inclusive.

Additionally, the IRD announced that performers outside of the CARICOM will be subject to a withholding tax of 25 per cent.

Last year, the major events promoters said they wanted more time and consultation which the government allowed.

The IRD now says event organisers must apply for an event certificate, be in good standing with all relevant taxes, and bring all paper tickets to be stamped before the event.

The IRD says it will be enforcing the law with regards to the new entertainment tax.