{"id":195937,"date":"2024-02-23T08:42:01","date_gmt":"2024-02-23T12:42:01","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=195937"},"modified":"2024-02-23T08:42:01","modified_gmt":"2024-02-23T12:42:01","slug":"businesses-in-antigua-only-have-15-days-to-pay-over-abst-to-the-government-down-from-30","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/businesses-in-antigua-only-have-15-days-to-pay-over-abst-to-the-government-down-from-30\/","title":{"rendered":"Businesses in Antigua only have 15 days to pay over ABST to the Government, down from 30"},"content":{"rendered":"
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Antigua and Barbuda Sales Tax Act Amendment Bill Presented by Prime Minister Gaston Browne<\/p>

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In a recent session of the Antigua and Barbuda House of Representatives, Prime Minister Gaston Browne introduced a bill to amend the Antigua and Barbuda Sales Tax Act.<\/p>\n

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The proposed amendment aims to enhance the efficiency of tax collection by changing the deadline for lodging the Antigua and Barbuda Sales Tax (ABST) return.<\/p>

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The bill, titled the Antigua and Barbuda Sales Tax Amendment Act 2024, is scheduled to come into effect on March 1st, affecting the lodging of ABST returns for the tax period from March 1st, 2024, to March 31st, 2024, and subsequent tax periods.<\/p>

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The key amendment outlined in the bill is the change to Section 39 of the Principal Act, which mandates that a taxable person must lodge an ABST return for each tax period no later than 15 calendar days after the end of the period.<\/p>\n

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This amendment reduces the lodging period from 30 days to 15 days, significantly expediting the collection process.<\/p>

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Prime Minister Browne emphasized the importance of the amendment in improving tax collection efficiency.<\/p>\n

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He stated, “This amendment is crucial in streamlining our tax collection process. By reducing the lodging period from 30 days to 15 days, we are ensuring that funds are remitted to the government in a timelier manner.”<\/p>

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He further highlighted that the amendment does not alter the tax rate or any other aspect of the existing tax framework. Instead, it aims to ensure the timely remittance of taxes collected on behalf of the government.<\/p>

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He underscored that taxes collected are considered trust funds and should be remitted promptly to the Inland Revenue Department.<\/p>\n

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The new deadline is expected to streamline the collection process, ensuring that funds are remitted to the government within a shorter timeframe. The amendment is not retroactive and will only apply to collections made from March 1st, 2024, onwards.<\/p>\n

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Prime Minister Browne recommended the amendment to the House for consideration, highlighting its potential to improve the efficiency of tax collection without altering the existing tax structure.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Antigua and Barbuda Sales Tax Act Amendment Bill Presented by Prime Minister Gaston Browne   In a recent session of the Antigua and Barbuda House of Representatives, Prime Minister Gaston Browne introduced a bill to amend the Antigua and Barbuda Sales Tax Act.   The proposed amendment aims to enhance the efficiency of tax collection […]<\/p>\n","protected":false},"author":3,"featured_media":195938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-195937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nBusinesses in Antigua only have 15 days to pay over ABST to the Government, down from 30 - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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