Events Companies

What are events’ companies?

An event management company is a professional service that specializes in planning, organizing, and executing various events on behalf of its clients. An event management company oversees the project management of an event, including the planning, budgeting, promotion, delivery and evaluation.

Some of the significant event sectors that event management companies work in are as follows:

  • Festival and music events,
  • Weddings and other personal events,
  • Exhibitions and trade shows,
  • Conferences and convections,
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Event management companies perform a variety of different roles for an event. Event management companies are hired by regular businesses to deliver an event on their behalf. Some of the services managed by events companies include;

  • Technical and Audio-Visual Equipment
  • Catering
  • Artiste and speaker management
  • Security
  • Ticketing
  • Decorations and Theming
  • Production and staging
  • Safety Management
  • Marketing and Promotions
  • Etc.

 

All players in the events company business in Uganda are required to be registered with

  • Uganda Revenue Authority (URA) for taxes
  • For non-individual you can register a company name with URSB.

 

For individual

  • National ID or any other two of the following valid identification documents;  Passport, Driving permit, Voter’s card, Village ID, Employment ID, Refugee ID, recent Bank statement, Work permit, financial card, Visa, NSSF card etc.
  • Certificate of registration (incase you are in business)
  • Statement of particulars and partnership deeds (incase of a partnership)

For non-individual

  • Company Form 20
  • Certificate of incorporation

Click here for details on requirements for registration

Click here for your rights  as a taxpayer

Click here for your  obligations as a taxpayer

It is very important for you to keep proper records of all your business transactions for at least five years after the end of the tax period to which they relate to, for future reference.

These include;

  • Income statement (List of Receipts and Payments),
  • payroll,
  • contracts,
  • bank statements,
  • appointment letters,
  • bills (e.g. utility bills),
  • Asset registers and many other records and/or documents relevant to your business such as receipt books, invoices, debtors and creditors.

Click here for information on business record keeping.

The taxes applicable to an Events company/studio business include the following;

Income tax – applies to all, whether individual or non-individual player.

Please note: The rate applicable for income tax for non-individual clients is 30% of the entity’s chargeable income (gross income less allowable deductions). However, individual income tax depends on the bracket in which the individual falls.

Click here for individual income tax rates 

Corporation tax

It’s a tax imposed on non-individual players in the sector at a standard rate of 30%.

 

Withholding tax: – will be paid by the events company in case of supply services to a designated withholding agent when the invoice value is above UGX 1,000,000

Click here for more information on Withholding tax.

 

Value Added Tax (VAT) – for players who generate income from events companies that exceed 150,000,000 in a given year, are expected to collect VAT on every transaction that invoiced (EFRIS).

Where an events company receives sponsorship from any other company, it must raise an invoice that is VAT inclusive through EFRIS to the sponsor.

Click here for more information on VAT  

 

Pay As You Earn (PAYE)

This tax applies to a sector player who has employees (administrative or causal laborers) that earn an aggregate in excess of Ugx. 235,000 per month. This form of tax is withheld every month.

Click here for the PAYE rates

These returns are filed like any other Income tax returns

Click here for information on how to file your returns.  

After filing a return, you’re required to pay the resultant tax using any of the available payment platforms e.g. banks, mobile money, EFT, RTGS, VISA, Mastercard, USSD code (*285#) etc.

Please note: the due date for payment of tax is the same as that of return filing.

Click here to register a payment

 

In case you cannot register online, visit the nearest URA office for assistance or call the toll-free line 0800117000/0800217000 or WhatsApp: 0772140000

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