{"id":87481,"date":"2019-12-11T07:40:26","date_gmt":"2019-12-11T11:40:26","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=87481"},"modified":"2019-12-11T07:40:26","modified_gmt":"2019-12-11T11:40:26","slug":"weston-says-upcoming-tax-reduction-is-not-a-money-making-endeavor-by-government","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/weston-says-upcoming-tax-reduction-is-not-a-money-making-endeavor-by-government\/","title":{"rendered":"Weston Says Upcoming Tax Reduction Is Not A Money-Making Endeavor By Government"},"content":{"rendered":"
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Minister of State in the Ministry of Finance and Corporate Governance, Lennox Weston, provided comments on the decision to reduce sales tax this weekend saying it is not a money-making endeavor by the government.<\/p>

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\u201cEssentially, this is not a money-making endeavour by the government. This is an attempt by the government to say, for the entire year we give wealthy investors concessions; we give them hundreds of millions of dollars on concessions and the people of Antigua and Barbuda voted for this government, they have a stake in this government and so they too require a little bit of benefit as we have given to the rich investors.” said Weston.<\/p>\n

The Government of Antigua & Barbuda has decided to reduce the Antigua & Barbuda Sales Tax (ABST) starting from Friday December 13th, 2019 to midnight on Sunday December 15th, 2019.<\/p>

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The ABST will be reduced from 15% to 5%.<\/p>

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However, it will revert to the usual 15% commencing on the 16th of December 2019.<\/p>\n

\u201cSo, it\u2019s just small token of giving back to our consumers and also many businesses, small and large, look forward to this period of enhanced purchasing so they can turn a profit for the year. So, we wanna keep our private sector happy. We appreciate the role that the private sector has played. They provide very valuable service and we want them also to go home happy that they can pay their overdraft, they can pay their workers and they can see a little profit for their efforts,\u201d Weston said.<\/p>

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\u201cWe don\u2019t expect it to affect revenues. As you know, the Prime Minister made the point that our tax GDP is very low; it has been declining. Our revenue enforcement and collection is not very effective; it\u2019s something we need to speed up. And so, we have been losing revenue for the entire year. We are aware of that \u2026 and we are going to make some changes in the new year. We believe that the increase in sales \u2026 will actually make us break even because there are some purchases and some persons are enticed to make now that they would not make if they didn\u2019t have this discount.\u201d Weston added.<\/p>\n

On the other hand, Weston informed that not every business will be apart of the tax reduction. Several businesses made complains that their IT system is too difficult to override for them to make the adjustment for such a short period<\/p>

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Minister of State in the Ministry of Finance and Corporate Governance, Lennox Weston, provided comments on the decision to reduce sales tax this weekend saying it is not a money-making endeavor by the government. \u201cEssentially, this is not a money-making endeavour by the government. This is an attempt by the government to say, for the […]<\/p>\n","protected":false},"author":3,"featured_media":13444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-87481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWeston Says Upcoming Tax Reduction Is Not A Money-Making Endeavor By Government - 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\/weston-says-upcoming-tax-reduction-is-not-a-money-making-endeavor-by-government\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weston Says Upcoming Tax Reduction Is Not A Money-Making Endeavor By Government\" \/>\n<meta property=\"og:description\" content=\"Minister of State in the Ministry of Finance and Corporate Governance, Lennox Weston, provided comments on the decision to reduce sales tax this weekend saying it is not a money-making endeavor by the government. \u201cEssentially, this is not a money-making endeavour by the government. 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