The Antigua and Barbuda government is considering broadening its Windfall Tax regime to cover all businesses generating annual profits of EC$1 million or more, according to Antigua.news.
The proposal was discussed at this week's Cabinet meeting as part of wider efforts to secure sustainable funding for education and human capital development. Under current legislation, the Windfall Tax applies exclusively to the telecommunications, banking, insurance and energy sectors, imposing a 10 percent levy on companies earning profits of EC$1 million or higher.
Cabinet is now examining amendments that would expand the tax base, ensuring that all highly profitable enterprises contribute more equitably to national development.
Much of Cabinet's deliberations centred on the government's growing investment in education, particularly at the tertiary level. Officials noted that Antigua and Barbuda has embarked on an ambitious expansion of its higher education sector, including continued support for the University of the West Indies Five Islands Campus and the institutions comprising the Antigua and Barbuda College of Advanced Studies (ABCAS).
Those institutions include the Alister Francis Campus, Eustace Hill Campus, Muriel O'Marde Campus and The Harrison Centre.
Cabinet acknowledged that as access to higher education grows and government investment in facilities, programmes and student opportunities increases, innovative and sustainable financing mechanisms are needed to support these initiatives. The proposed Windfall Tax expansion is being considered as one potential avenue for generating dedicated revenue to strengthen the country's educational institutions.
Cabinet indicated that discussions will continue in upcoming meetings, with careful attention to the legal, economic and social implications of any changes to the existing tax framework. Should Cabinet approve amendments, the necessary legislation would be brought before Parliament for debate and consideration.
The government reaffirmed its commitment to ensuring that the benefits of economic growth are shared broadly across society, and that investment in education remains a central pillar of Antigua and Barbuda's long-term development agenda.
