Published 11 July 2021
Basseterre
Buckie Got It, St. Kitts and Nevis News Source
The Facts and stats why entertainment is getting the squeeze!
I have what they call a Sport and Entertainment License for almost ten years, and it’s up to date along with my taxes. So when I post about entertainment, it is not just passion but a business for me.
Six years ago, I made a post on this platform and suggested that entertainers should go and obtain their business license and come in compliance with paying taxes. That didn’t sit well with most of them. However, I got dragged, cuss out, plus other things. And I know I will probably get the same ass whipping again or worse for this post.
I guaranteed if we had at least 100 persons in the entertainment industry with their business license in order. We would’ve gotten better treatment plus a seat at the table like other stakeholders. I will defend the two cents I contributed to the government purse annually. Far too long, many others and I suffered because the majority refuse to play by rules and go unchecked.
Entertainment Tax collection Example
IRD exclude additional taxes
IRD 100 licenses x $200 = $20K per year. for 5 years = $100,000
SC S.E 100 persons Monthly @ $120 give or take
100 x $120x 12Months = $144,000 x 5 years = $720,000
In Five Years between IRD and SC S.E +$820,000
from this $820K
= $450K Entertainment Stimulus for 3 months @ $1500 monthly, for 100 persons. I hope my Maths is correct, so the comments don’t stray from the topic.
Inland Revenue and Social Security must ensure that all businesses operating in the federation have a business license and pay their fair share of taxes. Why I should pay and follow the rules and others get free passes. I wasn’t always up to par but, someone showed me how important it is to have a business license and sign up with Social Security as a self-employed person. Then I shared that information with my fellow associates.
“It’s time to get in line or get left behind.”
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