The Antiguan government has confirmed it will expand its windfall profits tax to cover all companies in Antigua and Barbuda earning more than EC$1 million in annual profits, with proceeds designated to finance free tertiary education. According to Antigua News Room, the decision was confirmed during Thursday's post-Cabinet media briefing.
Director General of Communications Maurice Merchant made the announcement after being asked whether the tax would be broadened beyond its original scope. He confirmed that Cabinet had already approved the policy.
"All companies within Antigua and Barbuda who make a million plus dollars, they would be required to pay that tax—on profits, that is," Merchant said.
Merchant explained that the expanded tax is designed to create a sustainable funding stream for the government's free tertiary education programme, including tuition assistance for students attending the University of the West Indies Five Islands Campus.
The measure will take effect once Parliament approves the necessary legislative amendments, Merchant said.
The announcement builds on earlier statements by Prime Minister Gaston Browne, who had indicated the government's intention to widen the windfall tax to secure long-term financing for free tertiary education. Merchant made clear at Thursday's briefing that Cabinet has now finalized the decision, leaving only the legislative process before the policy can be implemented.
