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Antigua and Barbuda Extending 10% Windfall Tax on Certain Companies — Orbitax Tax News & Alerts

The government of Antigua and Barbuda has reportedly decided to extend the 10% "windfall" tax on the net profits of certain companies in order to fund the Antigua campus of the University of the West Indies. Originally introduced in 2019 for a period of three years, the 10% tax is levied on telecommunications companies, financial institutions (banks and insurance companies), and the country's sole petrol distribution company, the West Indies Oil Company (WIOC). The government has decided to extend the tax to 2024, with the possibility of extending it indefinitely.