- The Antigua and Barbuda Sales Tax (ABST) will be increased by 2 percent in the 2024 budget.
- The increase in ABST was recommended by the Ministry of Finance to close the funding gap.
- The increase is necessary due to forecasted increases in public sector salaries and other expenses.
- The 2 percent increase is expected to have little to no impact on the cost of basic food items.
- Zero-rated items, such as flour, rice, and vegetables, will not be affected by the tax increase.
- The ABST was introduced in 2007 and is a value-added tax imposed on the price of goods and services.
Source: antiguaobserver.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
