Our President, Philip Brennan, has been nominated for an Arthur Award at ILMC 29 for Most Professional Professional.
On behalf of everyone at tmi business management, it is an honour to be nominated and is testimony to our company’s hard work and to the invaluable assistance we get from promoters, agents, management and advisers on all our tours, without whom we would not be able to do our job.
We thank you all,
tmi business management
We are finding that Tax Clearances are becoming more difficult to obtain and also to obtain in an orderly time-frame.
More artists are touring regularly in order to make up for the earnings shortfall in record sales (Forgive me, any millennials reading this and wondering what record sales are!). In addition, artists are having to become much more creative in generating new revenue streams, often around their touring activity. However, tour cash flow is a far greater issue for touring artists due to the lack of alternative revenue streams available to fund the tours.
However, this increased activity also means that the various Tax Authorities worldwide are having to deal with more activity and new revenue streams but with the same and in some cases fewer staff. The significant delays are causing funding problems for artists. A tax credit is no substitute for cash.
We have noticed delays of a number of months in –
- United Kingdom
In addition, in Germany the local offices are no longer dealing with tax submissions from Artist representatives but this has now been transferred back to the German Federal Tax Office. This has resulted in both delays and a reversion to the previous intransigence in terms of accepting costs incurred by independent production companies with the result that the artists earnings are taxed on gross before any deductions.
The Tax Authorities can only process so much with the personnel and time available but with increased activity this is causing problems for all sides.
We are currently updating all our Tax Newsletters to take account of new regulations and new Tax Treaties.
So keep a look out on our website for the new updated Tax Newsletters. You can download at any time free of charge.
Remember, if you need further information on any of the territories please do not hesitate to contact us. We are here to help.
We have included a new Newsletter Download today.
The document sets out the requirements for non-resident Artists visiting Canada. The document is very extensive and was prepared by our good friend, Dave Pennington. Dave is a Canadian who specializes in this area and his knowledge is extensive.
If you are visiting Canada and are in need of assistance, you can contact either ourselves or Dave directly at –
Muskoka Management Ltd.
Tel: 705 732-1200
Cell: 705 773-9604
Fax: 705 732-4468
We hope this summary is of assistance to you.
Another year over.
Despite the tough times we are experiencing, we at tmi business management continue to survive and thrive. For that we would like to sincerely thank all our clients for their new and continued business in the year. We worked on various tours during the year – Guns n’ Roses, Lady Gaga, Madonna, MIKA, Sting – in what was a busy year in touring. We hope we at least met your expectations and in some cases maybe exceeded them. We will continue to strive to do our very best for you.
2013 will be a year where tax authorities will likely look to maximize their tax take from visiting artists and may look to re-visit past years. We look forward to the battle.
Don’t forget that we are experienced at production accounting on tours and also assisting on the management of the production itself. Remember that much of a tours costs are tied up in production costs and control and reporting on a regular basis is vital to ensure a successful result. This is something which you are in a position to control. We are here to help.
We wish you a successful 2013.