VATupdate

Creative Industry should Contribute to the National Revenue Basket

Agents, promoters and events managers may also be required to account for Value Added Tax (VAT) on vatable services. For example, when a concert has been organized, every ticket sold attracts 18% VAT which the agent, promoter or events manager is required to remit to URA. In this case the VAT is borne by the person who bought the ticket and the agent, promoter or events manager only acts as a collecting agent for government. However, in remitting the VAT to URA, the agent, promoter or events manager is allowed to deduct any VAT incurred in organizing the concert.

Source: thetaxman.ura.go.ug

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