Prime Minister Gaston Browne addressing nationals in New York. Photo: CMC

More than a year after the ruling Antigua Barbuda Labour Party (ABLP) came to office promising voters that it would eliminate personal income tax (PIT), Prime Minister Gaston Browne says the promise will become a reality in a matter of months.

“We have taken a decision, that starting next year, we will begin the elimination of personal income tax, or I’d say the reduction of personal Income Tax and by 2017 personal income tax would be eliminated in its entirety,” Browne said.

Speaking at an event in the United States earlier this week, Browne said that the ABLP, which won the last general election removing the United Progressive Party (UPP), wants the timing right in carrying out the electoral promise.

He told the Antigua and Barbuda Diaspora that his administration believes it would be better to tax residents using other means.

“Our issue is about how we tax the people, whether or not we should tax income or if we should tax consumption, and we have said it would be better off taxing consumption,” he said.

At present, people here who earn between EC$3,500 and EC$15,500 (One EC dollar =US$0.37 cents) a month pay eight per cent PIT.

(CMC)