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LAMC Says Tax Breach Unintentional
Singapore concert promoter LAMC Productions says its tax shortcomings were unintentional and that it has fully cooperated with the local authority to remedy the situation.
As reported in Pollstar, on March 4 the Inland Revenue Authority of Singapore handed down a ruling that the local concert promoter had underreported income it received for several concerts it organized in the city-state and had not paid sufficient taxes on the income.
In a subsequent post on the company’s website and Facebook page, LAMC wrote, “The breach of tax law was not intentional. LAMC Productions has cooperated fully with the IRAS in its investigations and successfully brought this chapter to a close on March 4, 2015.
“LAMC has been compliant with Singapore tax regulations for the last 4 years and will continue to do so. Moving forward, it will be business as usual and we remain strongly committed to bringing the world’s finest artists to perform in Singapore.”