Singapore Expats Forum

Music concert as a business?

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
User avatar
Pablito
Regular
Regular
Posts: 77
Joined: Mon, 15 Oct 2007
Location: Singapore
Contact:

Music concert as a business?

Postby Pablito » Fri, 22 May 2009 5:41 pm

I have a question.
Suppose, I decide to make a piano muisc concert (or poetry reading, or both) in a small hall. I rent a hall, order tickets and make small advertisement. Let's say I pay about 800$ for it with rist to lose it all, or to return let's say 1000$, having 200$ profit. How it can be done legally? Is it a business transaction? How should I pay taxes from it?
IT trainings, consulting, developing:
http://www.officeweapon.com
Take IT easy!

User avatar
ksl
Governor
Governor
Posts: 6005
Joined: Mon, 19 Jul 2004
Location: Singapore
Contact:

Re: Music concert as a business?

Postby ksl » Fri, 22 May 2009 11:58 pm

Pablito wrote:I have a question.
Suppose, I decide to make a piano muisc concert (or poetry reading, or both) in a small hall. I rent a hall, order tickets and make small advertisement. Let's say I pay about 800$ for it with rist to lose it all, or to return let's say 1000$, having 200$ profit. How it can be done legally? Is it a business transaction? How should I pay taxes from it?


Personally you need to find out if it's feasible to do, I believe you may have up to 6 months to complete registration with Acra as a sole proprietor , for tax purposes. In this time frame your activities are still expected to be declared, in the tax year, as extra income, or a registered business entity.

What matters is that if you try to avoid paying tax, you commit a crime. although i doubt you would be paying any tax on so little, unless you have other substantial income, that make take you top a threshold, if that is the case in Singapore.

I would certainly get advice from the tax office, if it's only occasional meetings, you may not have to register as a business, although saying that, if you are not a Singapore citizen, then god knows..It's always wise to ask, then get it in writing, so send them a letter. So that you have reference to your communication.


  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 1 guest