Antigua and Barbuda

Antigua and Barbuda

Renewal of a time-limited income tax incentive and extension to all energy companies

01 Jan 2021

On July 14th, 2022, the Official Gazette (Vol. XLII No. 36) published the "Income Tax (Amendment) Act, 2022", which extends and modifies a 2019 amendment to Section 32.

Starting on January 1st, 2021, the net income tax rate shall be 10 per cent for all commercial banking institutions, insurance companies, telecommunication companies, petroleum companies and energy companies. This amendment extends the validity of the "Income Tax (Amendment) Act, 2019", which was valid from January 1st, 2019, to December 31st, 2020. The income tax incentives is from now on extended to all energy companies, whereas the previous amendment only covered oil companies.

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