Antigua and Barbuda: Living There - Tax Issues
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Living There
INDIVIDUAL TAXATION
Residents are taxed on their worldwide income.
INCOME TAX
There are three categories of income for tax assessment purposes: employment income, self-employment income, and other income. Self-employment income includes the following:
- Gains or profits from any trade, business, profession, or vocation
- The portion of any pension in excess of ECD60,000 (US$22,222)
- Rents, royalties, and any other income arising from property
- Any annual gains or profits
- Foreign-sourced income
Income is taxed at progressive rates; employment income by withholding while self-employment income and other income by way of assessment. Each taxpayer is entitled to a personal tax-free allowance of ECD36,000 (US$13,333).
INCOME TAX |
|
| TAXABLE INCOME, ECD (US$) | TAX RATE |
| Up to 12,000 (US$4,444) | 10% |
| 12,000 – 84,000 (US$31,111) | 15% on band over US$4,444 |
| 84,000 – 144,000 (US$53,333) | 20% on band over US$31,111 |
| Over 144,000 (US$53,333) | 25% on all income over US$53,333 |
| Source: Global Property Guide | |
RENTAL INCOME
Rental income is taxed at the standard income tax rates. In computing taxable income, income-generating expenses (repairs, utilities, loan interest on the property, and other expenses) and depreciation expenses (wear and tear charges) are deductible from the gross rent. The maximum depreciation rate for buildings is 2%.
Taxpayers cannot claim depreciation charges if there is already a loss on the gross income less income-generating expenses. Taxpayers also cannot claim depreciation charges for a property if the depreciation charge would exceed the difference between gross rent and total expenses (hence, creating a loss or negative income).
CAPITAL GAINS
Capital gains are not subject to taxation in Antigua.
PROPERTY TAX
Property Tax
Property tax is levied on all properties located in Antigua, but not in Barbuda. The taxable value is based on the propertys current construction replacement cost.
The applicable tax rates depend on the classification of the property; whether it is a residential property or commercial property. Residential properties are subject to the following rates:
RESIDENTIAL PROPERTY TAX |
|
| TAX BASE, ECD (US$) | TAX |
| Up to 50,000 (US$18,519) | ECD50 (US$19) |
| 51,000 100,000 (US$37,037) | ECD150 (US$56) |
| 101,000 150,000 (US$55,556) | ECD275 (US$102) |
| 151,000 250,000 (US$92,593) | ECD500 (US$185) |
| 251,000 350,000 (US$129,630) | ECD900 (US$333) |
| 351,000 500,000 (US$185,185) | ECD1,800 (US$667) |
| 501,000 700,000 (US$259,259) | ECD2,500 (US$926) |
| 701,000 900,000 (US$333,333) | ECD3,000 (US$1,111) |
| 901,000 1,200,000 (US$444,444) | ECD4,000 (US$1,482) |
| Over 1,200,000 (US$444,444) | 0.5% of 1% of the taxable value |
| Source: Global Property Guide | |
In certain districts, surcharges of 5%, 10%, 15% or 20% are applied.
Land Tax
Land tax is levied at Antigua and Barbuda, depending on the type and size of the property.
LAND TAX |
|
| TAX BASE | TAX |
| Less than 1 acre | ECD50 (US$19) |
| 1 acre 5 acres | ECD50 (US$19) per acre |
| 6 acres 50 acres | ECD200 (US$74) per acre |
| 51 acres 500 acres | ECD150 (US$56) per acre |
| Over 500 acres | ECD100 (US$37) per acre |
| Source: Global Property Guide | |
However, for land in the city of St. John, land tax is imposed at ECD50 (US$19) per square feet (sq. ft.). The annual tax is payable in two installments, on or before 31 March and 30 June.
Antigua and Barbuda - more data and information
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