The Inland Revenue Division (IRD) is reminding promoters, including cruise promoters, of their basic tax obligations to the state.
As a result, anyone planning a public entertainment event — including a boat cruise — must contact the IRD beforehand.
Please be reminded that ALL revenue from the events is subject to value added tax (VAT), which is the tax paid by patrons or customers attending the events; this includes ticket sales and bar sales. The VAT collected must be remitted to the Government via its Inland Revenue Division.
Also note that the prices advertised or quoted on the tickets must be VAT-inclusive.
IRD encourages adherence to the above requirement to avoid legal or enforcement implications.
For further inquiries, please contact the Inland Revenue Division at 440-3556 or via email at [email protected] or [email protected].
Source: Inland Revenue Division: Striving for Greater Voluntary Tax Compliance.
