The Gambia Revenue Authority (GRA), mandated to collect taxes on behalf of government for national development, has announced that henceforth all entertainment events organized locally or internationally are subjected to income taxpayment, a press release from GRA disclosed.
According to the release, the income 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,’’ GRA declared.
It added: ‘’For the artist or musician local or foreign the tax shall be withheld by the promoter and paid to the GRA on their behalf. The applicable without tax rates are as follows; 1; local artist or musician a withholding tax on the gross amount due to the artist or musician at the rate of 10% as specified under section 89(3) of the income and value Added tax Act 2012.’’ For foreign or International artist or musician, -a withholding tax on the gross amount due to the artist or musician at the rate of 15% as specified under sections 11 and 92 of the income and Valued Added Tax Act 2022.
‘’It is important for all promoters to note that failure to without tax as stated above or failure to remit tax withheld is an offence under section 95 of the Income and Valued Added Tax Act 2012. In such a 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.’’
The release further advised that all promoters were strictly urged to comply with the legal requirement to avoid enforcement of full force of the law or disruption of their event by the authorities.
The release then concluded by emphasizing thatGRA was collecting revenue for national development.
It could be recalled that Government of the Gambia recently tasked GRA to collect 15.2 billion as annual revenue target for 2023, and in 2024 government increased the annual revenue target to 19Billion.
