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 by changing the deadline for lodging the Antigua and Barbuda Sales Tax (ABST) return.
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.
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.
This amendment reduces the lodging period from 30 days to 15 days, significantly expediting the collection process.
Prime Minister Browne emphasized the importance of the amendment in improving tax collection efficiency.
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.”
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.
He underscored that taxes collected are considered trust funds and should be remitted promptly to the Inland Revenue Department.
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.
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.
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While we at it. How about we ask people to pay child support during gestation and post.
Pressure buss pipe.
Less jobs more taxes!
I understand that this is a cashflow issue and that government needs their monies a.s.a.p. Why in the first place they didn’t think about this I don’t know. But having your monies interest free in the bank account of the businesses is not smart. I would even say, that certain businesses that only have cash transactions should pay their ABST on a weekly basis. And that process should be simple. You should be guided by the report of your Point of Sale. And no Offsetting should occur at the weekly payment. That should only happens at the monthly Reconciliation. And Supermarkets are the biggest turnout of ABST. But I understand they pay ABST at the Port as well. That is why I would recommend monthly reconciliation with the weekly payments. I have been paying my ABST for years now on the 14th of the month, together with the statutory contributions. I have no time to sent my messenger twice to do business in town. These things should have been streamlined longtime ago
Lets also think about the Professionals who bill a client for say structural engineer work, or architectural fees etc and the ABST is in excess of $15,000 – $25,000 but the client does not pay you in 7 or 14 or 21 or 30 days….not every collector receives payment immediately and that tax is still due after 30 days whether your customer pays or not. Its unfair to say pay you, the Govn’t, when I have not collected your fees but at least 30 days gave time enough to chase. I’m just saying.
Is not the same concept that applies to Social Security, Medical Benefits & Inland Revenue? The Gov’t needs its cash in order to meet its expenses. Let’s take a page out of the great US president’s book ” it is not what the country can do for you, but what you can do for your country! “
Why are business not credited while doing the work of government ? If I collect your taxes for you , I should be paid for my services . Like 1 percent back tot he businesses who do the governments work .
They do get “paid”. They deduct anything they spend in ABST for their businesses and remit the balance to the Govn’t. So essentially, ABST registered businesses DOES NOT pay ABST! I never understood it but I’m not even trying to.
I wish to remind Gaston that it’s this very thing that cause some businesses to pool their monies and get rid of Harold Lovell. Of course he applauded at the time but might be now heading down the same road.
Desperate times call for Desperate Measures. The PM must be really feeling the squeeze from all the taxpayers money he has thrown down the drain year after year after year. Alpha Nero, Lousy Inefficient Albatross Titsup, Prefab houses costing millions gone to trash. 7 million for crony cinema bailout. Where is the arts center you promised? Eh? Endless interest payments on the Billions borrowed to make up for the shortfalls created by overblown corrupt non transparent contracts without proper tenders. That’s enough. For now, anyway.
When are you going to reopen the post office? Do the people know that all their bill payments are being stockpiled in the mail rooms because nobody is moving them. They will continue to sit idle until whenever the main post office reopens. Then it will take them 3 months to clear the backlog. See for yourself. What an absolute shambles this country is in!
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