Antigua and Barbuda - Taxation



The profits tax for corporations in 2003 was 40%. Incorporated businesses are taxed at 2% of gross income with the first $4,160 of income per month tax-exempt. The income tax, introduced in 1924, was abolished for residents at the end of 1976. Taxes on residential property are based on current replacement values, and in 2003 were subject to surcharges of 0% to 20% depending on zoning regulations. Hotels are taxed at preferential rate of 0.2% of taxable value while other commercial property is taxed at 0.75% of taxable value. Other taxes include taxes on life and general insurance premiums, and on property transfers.

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