The government says on December 31, 2018, all concessions granted to businesses other than hotels, agriculture and fishing enterprises, shall be discontinued.
“Tax-free holidays and waived withholding taxes shall become due and liable commencing on January 1, 2019,” it said in a brief statement coming out of Cabinet.
The decision was taken “in order to enable a growth in revenue as the economy grows.”
The taxing agencies collect only 17% of GDP annually; however, the norm is closer to 25% annually.
“This measure is intended for the Government to collect its fair share as the economy grows. Antigua and Barbuda’s economy is the fastest-growing in the Caribbean,” the statement said.
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In what area is it growing, because only one hotel has started any work, everything else is just talk. Maybe the growth they are talking about is prospective growth!!!
Wait which businesses was getting this …i never got shit penny off of anything because if it takes me going to an office and beg that is a no no for me…..the government is supposed to put things in place so that all in business see the benefits,just make policies that is worth while etc… social security pension raise,school meals program,uniform grant see how easy it was to do that is what a caring government do…
Boy the money will really roll in from this move!
Unemployment is going up from 1st January 2019.
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