‘IGNORANCE OF THE LAW IS NO EXCUSE’ IRS WARN MUSICIANS

www.nanayaw18.com fotos- Reggie Rockstone(Grand Papa HipLife)

The internal Revenue office in OSU has issued a strong signal to musicians in the country that, very soon they will be coming after them for their tax payment certificates they make in their profession, this was made clear by Richard a worker in the IRS office when nanayaw18.com visited them.

The  IRS employee warn that, very soon the IRS will be coming to all social centers in the country to request for all booking forms of both current and past event that the center has hosted and which artiste performed on that stage.

Meaning they will chase all and sundry for their TAX and they say “Ignorance of the law is no Excuse”.

Richard explained the deal as: ‘every musician is supposed to pay a tax we call ‘WITH HOLDING TAX’ on any amount of money they make in their business, whether from shows, endorsements or being ambassadors’.

Explaining Further, Richard said that, the withholding tax is normally 5% paid on the total amount of money made from, let’s say a performance or endorsements, if paid by the artiste the latter will be given a certificate to prove that he is tax free.

Richard stressed on the point that, majority of the time musicians play shows for event organizers and at times corporate bodies, so what this means is that, musicians have to request for their WITH HOLDING TAX CERTIFICATE from the event organizers or the corporate body and file it with the IRS in OSU.

Making more emphasis on the issue, it was made clear that every musician is suppose to have a withholding certificate file where all current and old certificates are kept to prevent future mishaps but as we speak now less than a minority of the musicians have this certificate files with us and their time will come soon.

This comes to confirm the issue of our local musicians not having tax problems as compared to the foreign world as we know and this is simply because they are not paying their taxes.

Imagine how much Reggie Rockstone and all the Glo signed artistes have to pay as their 5% withholding tax if found guilty by IRS or how much the show makers will be paying.

Ghana as an economy will be better off if our entertainers start paying their taxes and hopefully very soon some musicians will be prosecuted for tax fraud or owning in the country.

Don’t say we did not warn you; remember ignorance of the law will be no excuse to the IRS.

IRS and Musicians, Coming Soon to a social center near you….

Source:www.nanayaw18.com