Do you make or supplement your living through music or art?
Taxback.com and IMRO have joined forces to provide IMRO members with an affordable and comprehensive tax and work visa solution.
This partnership offers a discounted rate on a range of bespoke services including:
For VAT Registered Music Creators and Production Companies:
VAT Registered businesses performing or staging international concerts and recitals are entitled to reclaim the tax (VAT) incurred on their overseas expenses. IMRO members can be entitled to reclaim expenses such as:
- Stage Rental
- Studio rehearsals
- Audio-visual equipment
- Technical services
- Meals and accommodation
- Travel and fuel costs
- Advertising and promotional costs
- Professional service fees
Taxback.com manages the entire VAT reclaim process from the initial stages of retrieving invoices, preparing the claim and completing the paperwork to eventually filing the claims with the relevant tax authorities.
For Self-Employed or PAYE Music Creators:
Taxback.com will maximise your tax refunds whilst ensuring you are fully compliant with all the Irish tax regulations which apply to your individual circumstances.
If you earn an income from dividends or from domestic or foreign property rental, we can also look after your tax requirements but extra fees may apply. However, any supplementary fees will still be in line with our competitive fee structure for IMRO members.
- Artist Exemption Scheme Tax Recovery
A certain proportion of royalty income earned by songwriters and composers may be exempt from tax in Ireland under strictly defined circumstances through the Artist Exemption Scheme (subject to individual circumstances, assessment and clearance by the Revenue Commissioners).
Section 195, Taxes Consolidation Act, 1997 empowers the Irish Revenue to make a determination that certain artistic works are original and creative works generally recognised as having cultural or artistic merit.
See http://www.revenue.ie/en/tax/it/reliefs/artists-exemption.html
o This type of income must be declared through the Self-Assessed system
o Traditional accountants can charge as much as €1000 for this service
o The taxback.com IMRO service is offered at the affordable flat rate of €400
o This fee covers all PAYE, Self-Assessed and Exemption declarations
o Our solution will ensure that you avoid any late filing penalties
- Reclaiming Overseas Tax (e.g. Royalties etc)
Many IMRO members have overseas earnings from sources such as performance royalties, which may be taxed as much as 35%. Our comprehensive withholding tax refund servicewill minimise your tax liabilities so that you reclaim the maximum amount due to you. The taxback.com specialists have crafted the IMRO service on the basis of an exhaustive knowledge of international tax treaties.
- Visa Compliance for Tax Refunds
When lodging your Tax Return you will need to advise on your visa status whilst performing overseas. It is necessary that you were on the correct visa class to ensure eligibility for your tax refund. We can arrange visas for:
- Artists or Musicians travelling to performing all over the world including Australia, USA, Russia and New Zealand
- P Visas for performers travelling to the United States. These Visas enable internationally recognized performers and artists to work temporarily in the US. Spouses and children may accompany the holders of P visas for the length of the visa, but may not secure employment. P visas may be issued to an individual, a performing group, or an entire team.
Most Artists who have performed overseas will be aware of the difficulties that need to be overcome to secure the necessary paperwork to perform. We are here to ensure your visa application is submitted in a correct and timely manner and best meet your needs.
To discuss your tax and overseas situation with taxback.com – complete our registration form and an advisor will call you.
