One of the biggest concert promoters in Singapore — bringing in the likes of Metallica, Lady Gaga, Sigur Ros and more — has been convicted for tax evasion.
In an investigation conducted by the Inland Revenue Authority of Singapore (IRAS), it was revealed that LAMC had engaged artistes including Stereophonics, Pussycat Dolls and Lady Gaga to perform in Singapore back in 2008 and 2009 — of which they failed to declare and pay taxes amounting $85,404 to IRAS after making payments to the artist's management companies.
In court, they were ordered to pay back three times the tax amount ($256,212) and received a fine of $25,000. IRAS notes that this is the first case where a company was prosecuted and convicted for such an offence.
Despite the financial setbacks, it looks like the show must go on for them. Their upcoming shows include the Crosby, Stills & Nash concert, Johnny Marr of The Smiths and more.
Photo: Bandwagon Facebook page
Got a tip? Send it to us at singapore@coconuts.co.
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One of the biggest concert promoters in Singapore — bringing in the likes of Metallica, Lady Gaga, Sigur Ros and more — has been convicted for tax evasion.
In an investigation conducted by the Inland Revenue Authority of Singapore (IRAS), it was revealed that LAMC had engaged artistes including Stereophonics, Pussycat Dolls and Lady Gaga to perform in Singapore back in 2008 and 2009 — of which they failed to declare and pay taxes amounting $85,404 to IRAS after making payments to the artist's management companies.
In court, they were ordered to pay back three times the tax amount ($256,212) and received a fine of $25,000. IRAS notes that this is the first case where a company was prosecuted and convicted for such an offence.
Despite the financial setbacks, it looks like the show must go on for them. Their upcoming shows include the Crosby, Stills & Nash concert, Johnny Marr of The Smiths and more.
Photo: Bandwagon Facebook page
Got a tip? Send it to us at singapore@coconuts.co.
#mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; }
/* Add your own MailChimp form style overrides in your site stylesheet or in this style block.
We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. */
Use your Coconuts, subscribe to our newsletter:
* indicates required
Email Address *
First Name
Last Name
(function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';fnames[1]='FNAME';ftypes[1]='text';fnames[2]='LNAME';ftypes[2]='text';}(jQuery));var $mcj = jQuery.noConflict(true);