{"id":216843,"date":"2024-11-20T06:49:57","date_gmt":"2024-11-20T10:49:57","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=216843"},"modified":"2024-11-20T06:49:57","modified_gmt":"2024-11-20T10:49:57","slug":"antigua-and-barbuda-to-roll-out-new-tariff-system-in-january-2025","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/antigua-and-barbuda-to-roll-out-new-tariff-system-in-january-2025\/","title":{"rendered":"Antigua and Barbuda to Roll Out New Tariff System in January 2025"},"content":{"rendered":"
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SOURCE POINTE XPRESS NEWSPAPER- <\/strong>Antigua and Barbuda plans to implement a new tariff system starting on January 1, 2025, in line with its commitments under the CARICOM treaty.<\/p>

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This new system follows the Harmonised Coding System, HS 2022, which is being standardized across the region. During a recent meeting of the WTO Trade Facilitation Committee in St. John\u2019s, officials discussed the upcoming changes.<\/p>\n\n\n\n

Ambassador Clarence Pilgrim, the Permanent Secretary in the Ministry of Trade, highlighted that Antigua and Barbuda is behind many of its regional counterparts in adopting the updated tariff system, with the last update having occurred in 2007.<\/p>

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Ambassador Pilgrim expressed optimism about the transition to the HS 2022 Tariff, describing it as a potential turning point that will modernize the country\u2019s tariff framework and improve trade classifications and international trade statistics.<\/p>

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He acknowledged the challenges that this new implementation would bring, especially concerning essential goods, and noted that the Cabinet\u2019s decision to phase in the new measures represents a careful approach to protecting the economy and citizens.<\/p>\n\n\n\n

He clarified that the implementation of the HS 2022 will affect many imported goods, but the Cabinet decided that all goods entering the country would not incur a higher tariff than what was imposed previously in the first year.<\/p>

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This means that consumers won\u2019t see an increase in tariff rates initially. In the second year of the three-year rollout, any potential increase will be minimal, and it will decrease further in the third year.<\/p>\n\n\n\n

Ambassador Pilgrim also mentioned the importance of progress toward establishing an Electronic Single Window, though budget constraints have delayed its implementation.<\/p>

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He emphasized that the country\u2019s collaboration with international partners, including the WCO and governments from China, South Korea, and India, reflects a strong commitment to this goal.<\/p>

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However, the necessary upgrades to IT infrastructure must be addressed to ensure it operates effectively. He called on all stakeholders to keep working together, stating that collaboration and innovation are key to realizing a modern trade environment that fosters growth and prosperity for Antigua and Barbuda.<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

SOURCE POINTE XPRESS NEWSPAPER- Antigua and Barbuda plans to implement a new tariff system starting on January 1, 2025, in line with its commitments under the CARICOM treaty. This new system follows the Harmonised Coding System, HS 2022, which is being standardized across the region. During a recent meeting of the WTO Trade Facilitation Committee […]<\/p>\n","protected":false},"author":3,"featured_media":207559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-216843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nAntigua and Barbuda to Roll Out New Tariff System in January 2025 - 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\" href=\"https:\/\/antiguanewsroom.com\/antigua-and-barbuda-to-roll-out-new-tariff-system-in-january-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Antigua and Barbuda to Roll Out New Tariff System in January 2025\" \/>\n<meta property=\"og:description\" content=\"SOURCE POINTE XPRESS NEWSPAPER- Antigua and Barbuda plans to implement a new tariff system starting on January 1, 2025, in line with its commitments under the CARICOM treaty. 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