Antigua and Barbuda MOF Presents 2023 Budget Statement

The Antiguan Ministry of Finance, Corporate Governance & Public Private Partnerships March 2 presented the 2023 budget statement. The statement describes measures to: 1) increase the property tax rate to 0.5 percent from 0.3 percent on residential properties valued at 3 million Eastern Caribbean dollars (US$1.1 million) or more; 2) permit judicious application of set-offs against the tax liability of companies providing services to the government; 3) broaden the sales tax (ABST) base, strengthen the tax’s administration, and close avoidance loopholes; 4) suspend non-statutory tax exemptions across the board, and require the ABST, revenue recovery charge, and environmental levy to ...