Antigua and Barbuda REAL ESTATE MORTGAGE LOANS BANKS
Antigua and Barbuda REAL ESTATE MORTGAGE LOANS BANKS
Antigua and Barbuda impose sales tax on time
The representative of the Internal Revenue Service of Antigua and Barbuda said that, despite the possible difficulties, the Government next year will introduce a national sales tax.
“Indeed it is very difficult to develop and introduce a tax on the type of VAT for the second quarter of 2006”, - said Everton Gonzales, Acting Assistant Commissioner of the Tax Administration and coordinator of the local group to introduce a sales tax.
In July, the Minister of Finance and Economy, Dr. Errol Cort said that the sales tax, which resembles the VAT is one of the elements of a more general tax reform aimed at correcting the tax system to make tax administration more efficient.
According to Dr. Papakostas, sales tax will replace the current tax on consumption, as well as a number of other taxes levied on goods and services.