Antigua and Barbuda

Antigua and Barbuda

Time-limited income tax incentives for commercial banks and companies specializing in insurance, oil and telecommunications (10 per cent)

01 Jan 2019

On May 9th, 2019, the Official Gazette (Vol. XXXIX No. 30) published the "Income Tax (Amendment) Act, 2019", adding a new subsection to Section 32.

Between January 1st, 2019, and December 31st, 2020, the net income tax rate shall be 10 per cent for all commercial banking institutions, insurance companies, telecommunication companies and petroleum companies. The previously applicable rate was 30 per cent, and 27,5 per cent for some financial institutions (Income Tax (Amendment) Act, 2005).

Nature of measure:
  • Incentives
Type:
  • Treatment and operation (Other)
Industry:
  • Primary (Mining and quarrying)
  • Manufacturing (Manufacture of coke and refined petroleum products)
  • Services (Telecommunications, Financial and insurance activities)
Inward FDI:
No
Outward FDI:
No
Sources: