ANTIGUA AND BARBUDA

ANTIGUA AND BARBUDA

INCOME TAX (AMENDMENT) BILL, 2019

No. of 2019

Income Tax (Amendment) Bill, 2019 No. of 2019

2

No. of 2019 Income Tax (Amendment) Bill, 2019 The Personal Income Tax (Amendment) Act, 2013

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ANTIGUA AND BARBUDA

INCOME TAX (AMENDMENT) BILL, 2019

NO. OF 2019

ARRANGEMENT OF CLAUSES

CLAUSES

1. Short title

2. Interpretation

3. Amendment of section

Income Tax (Amendment) Bill, 2019 No. of 2019

4

ANTIGUA AND BARBUDA

INCOME TAX (AMENDMENT) BILL, 2019

No. of 2019

AN ACT to amend the Income Tax Act, Cap. 212

ENACTED by the Parliament of Antigua and Barbuda as follows:

1. Short title

This Act may be cited as the Income Tax (Amendment) Act, 2019

2. Interpretation

In this Act, “principal Act” means the Income Tax Act, Cap. 212.

3. Amendment of section 32

The principal Act is amended in section 32 by inserting after subsection (3) a new subsection (4) as

follows –

“(4) Notwithstanding the provisions of paragraph (b) of subsection (1) and the provisions of

subsection (3), the rate of tax on the net income of all commercial banking institutions registered

under the Banking Act, all Insurance Companies registered under the Insurance Act, all Petroleum

Companies and all Telecommunication Companies in respect of each income year in the period

commencing on the 1st January 2019 and ending on the 31st December 2020 shall be ten percent per

dollar of the net income.”

Passed by the House of Representatives

on the , 2019.

Passed by the Senate

on the , 2019

Speaker. President.

Clerk to the House of Representatives.

Clerk to the Senate.

No. of 2019 Income Tax (Amendment) Bill, 2019 The Personal Income Tax (Amendment) Act, 2013

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EXPLANATORY MEMORANDUM

The purpose of this amendment is to assist in funding the 4th Landed campus of the UWI.

Hon. Gaston Browne

Minister with responsibility for

Corporate Governance