ENTERTAINMENT PROMOTERS in Barbados say they are dead in the water without major sponsorship for their events.
And spokesperson Chetwin Stewart said it was against this background that they wanted to engage Government urgently before changes to the Value Added Tax (VAT) Act were made in Parliament.
Stewart told the DAILY NATION he was concerned that the planned legislative changes had been compromised by “unfounded suggestions” that promoters did not want to pay VAT.
He insisted that when VAT of 17.5 per cent was added to the eight per cent they were required to pay the Copyright Society of Composers, Authors and Publishers (COSCAP), their profit margins were almost eliminated. (GE)
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