Fitches Creek is an affluent coastal neighbourhood in Antigua and Barbuda , located on the island of Antigua . It was named for the English surname Fitch, which may have been the family name of some who originally owned the surrounding land. The surrounding area is now a neighborhood in the parish of Saint George .
94-682: The area is also an enumeration district, and statistical data for "Fitches Creek" is widely available. "Fitches Creek ED", or "ED 41800" has a population of 125, has a living condition index (unmet basic needs index) of 19.18, and an unemployment rate of 4.23. Fitches Creek is "high-income", and has an income weight of 3.29 and 100% of households own computers (compared to 64.14% of households who have internet access). There are 112 households. 28.30% of residents aged 24 or older have tertiary education. 17°07′17″N 61°47′06″W / 17.12139°N 61.78500°W / 17.12139; -61.78500 This Antigua and Barbuda location article
188-606: A credit for income taxes paid to other jurisdictions of the same sort. Thus, a credit is allowed at the national level for income taxes paid to other countries. Many income tax systems permit other credits of various sorts, and such credits are often unique to the jurisdiction. Some jurisdictions, particularly the United States and many of its states and Switzerland , impose the higher of regular income tax or an alternative tax. Switzerland and U.S. states generally impose such tax only on corporations and base it on capital or
282-468: A concept of net increase. In 9 CE, Emperor Wang Mang of the Xin dynasty (9 to 23 CE) established the first income tax through a 10% tax of net earnings from wild herb and fruit collection, fishing, shepherding, and various nonagricultural activities and forms of trading. People were obligated to report their taxes to the government and officials would audit these reports. The penalty for evading this tax
376-588: A degree of political stability, and boosting tourism to the country, the Bird governments were frequently accused of corruption, cronyism and financial malfeasance. Vere Bird Jr. , the elder son, was forced to leave the cabinet in 1990 following a scandal in which he was accused of smuggling Israeli weapons to Colombian drug-traffickers. Another son, Ivor Bird , was convicted of selling cocaine in 1995. In 1995, Hurricane Luis caused severe damage on Barbuda. The ABLP's dominance of Antiguan politics ended with
470-560: A few countries, cities also impose income taxes. The system may be integrated (as in Germany) with taxes collected at the federal level. In Quebec and the United States, federal and state systems are independently administered and have differences in determination of taxable income. Retirement oriented taxes, such as Social Security or national insurance , also are a type of income tax, though not generally referred to as such. In
564-439: A levy of 2 old pence in the pound ( 1 ⁄ 120 ) on incomes over £60 (equivalent to £6,700 in 2023), and increased up to a maximum of 2 shillings in the pound (10%) on incomes of over £200. Pitt hoped that the new income tax would raise £10 million a year, but actual receipts for 1799 totalled only a little over £6 million. Pitt's income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during
658-506: A new source of funds. The new income tax, based on Addington's model, was imposed on incomes above £150 (equivalent to £19,487 in 2023). Although this measure was initially intended to be temporary, it soon became a fixture of the British taxation system. A committee was formed in 1851 under Joseph Hume to investigate the matter, but failed to reach a clear recommendation. Despite the vociferous objection, William Gladstone , Chancellor of
752-591: A person had in property, the more tax they paid. Taxes were collected from individuals. One of the first recorded taxes on income was the Saladin tithe introduced by Henry II in 1188 to raise money for the Third Crusade . The tithe demanded that each layperson in England and Wales be taxed one tenth of their personal income and moveable property. In 1641, Portugal introduced a personal income tax called
846-412: A residential system of taxation usually allow deductions or credits for the tax that residents already pay to other countries on their foreign income. Many countries also sign tax treaties with each other to eliminate or reduce double taxation . Countries do not necessarily use the same system of taxation for individuals and corporations. For example, France uses a residential system for individuals but
940-426: A similar measure. Income tax is generally collected in one of two ways: through withholding of tax at source and/or through payments directly by taxpayers. Nearly all jurisdictions require those paying employees or nonresidents to withhold income tax from such payments. The amount to be withheld is a fixed percentage where the tax itself is at a fixed rate. Alternatively, the amount to be withheld may be determined by
1034-565: A small number of East Asians and Sephardic Jews make up the remainder of the population. An increasingly large percentage of the population lives abroad, most notably in the United Kingdom ( Antiguan Britons ), the United States and Canada. A minority of Antiguan residents are immigrants from other countries, particularly from Dominica, Guyana and Jamaica , and, increasingly, from the Dominican Republic, St. Vincent and
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#17327912033671128-400: Is Codrington . It is estimated that 25% of the population lives in an urban area, which is much lower than the international average of 55%. Antigua and Barbuda consists mostly of its two namesake islands, Antigua , and Barbuda . Other than that, Antigua and Barbuda's biggest islands are Guiana Island and Long Island off the coast of Antigua, and Redonda island, which is far from both of
1222-592: Is Spanish for 'ancient' and barbuda is Spanish for 'bearded'. The island of Antigua was originally called Wadadli by the Arawaks and is locally known by that name today; the Caribs possibly called Barbuda Wa'omoni . Christopher Columbus , while sailing by in 1493, may have named it Santa Maria la Antigua , after an icon in the Spanish Seville Cathedral . The "bearded" of Barbuda
1316-519: Is a stub . You can help Misplaced Pages by expanding it . Antigua and Barbuda Antigua and Barbuda ( UK : / æ n ˈ t iː ɡ ə ... b ɑːr ˈ b uː d ə / , US : / æ n ˈ t iː ɡ w ə ... b ɑːr ˈ b j uː d ə / ) is a sovereign archipelagic country in the Caribbean . It lies at the conjuncture of the Caribbean Sea and
1410-465: Is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income ). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income. The tax rate may increase as taxable income increases (referred to as graduated or progressive tax rates). The tax imposed on companies
1504-480: Is a unitary parliamentary democracy under a constitutional monarchy . The current Constitution of Antigua and Barbuda was adopted upon independence on 1 November 1981. This replaced the pre-independence constitution of the Associated State of Antigua , which did not thoroughly define the relationship between the two islands. The island of Barbuda maintains much autonomy, while the island of Antigua
1598-504: Is a small, uninhabited island located about 40 kilometres (25 miles) to the south-west of Antigua. Redonda is a rocky island. In Antigua and Barbuda forest cover is about 18% of the total land area, equivalent to 8,120 ha of forests in 2020, down from 10,110 ha in 1990. The most populous cities in Antigua and Barbuda are mostly on Antigua, being Saint John's , All Saints , Piggotts , and Liberta . The most populous city on Barbuda
1692-430: Is a very wide variation in the amount of taxation in different countries. For example, countries such as Singapore, Belgium and United Arab Emirates levy low income tax on interest and dividends, while countries such as Denmark, France and United States have very high income tax for this type of income. For profits that are earned by selling assets or a real estate (capital gains), the income tax varies between countries, and
1786-602: Is completely inactive, except for the Barbuda Council which is enshrined in the Constitution. Antigua historically had a system of village councils in the 1940s (although the legislation was never repealed), however, the Gaston Browne administration has expressed opposition to all forms of local governance. St. John's also historically had a city council during the late 1800s and early 1900s, however
1880-423: Is different from for any other types of income. Rental income may also sometimes be subject to income tax, but many countries offer deductions or even exemptions for this type of income. Income taxes are used in most countries around the world. The tax systems vary greatly and can consist of a flat fixed rate , progressive , or regressive , structures depending on the type of tax. Comparison of tax rates around
1974-600: Is directly governed by the national government. The executive branch has two primary leaders. The Governor-General , currently Rodney Williams , exercises the functions of the Monarch of Antigua and Barbuda , in whom executive power is vested in. The Governor-General serves at the pleasure of the Monarch, and usually serves a similar term to that of the Prime Minister . The Prime Minister, currently Gaston Browne ,
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#17327912033672068-489: Is higher in the US than in countries like Germany or Italy. In countries with a sizeable black market , the voluntary compliance rate is very low and may be impossible to properly calculate. Income taxes are separately imposed by sub-national jurisdictions in several countries with federal systems. These include Canada , Germany , Switzerland, and the United States , where provinces, cantons, or states impose separate taxes. In
2162-828: Is included in income for individuals may differ from what is included for entities. The timing of recognizing income may differ by type of taxpayer or type of income. Income generally includes most types of receipts that enrich the taxpayer, including compensation for services, gain from sale of goods or other property, interest, dividends, rents, royalties, annuities, pensions, and all manner of other items. Many systems exclude from income part or all of superannuation or other national retirement plan payments. Most tax systems exclude from income health care benefits provided by employers or under national insurance systems. Nearly all income tax systems permit residents to reduce gross income by business and some other types of deductions. By contrast, nonresidents are generally subject to income tax on
2256-456: Is largely dependent on tourism, which accounts for 80% of its GDP. Like other island nations , Antigua and Barbuda is vulnerable to the effects of climate change , such as sea level rise , and increased intensity of extreme weather like hurricanes . These cause coastal erosion , water scarcity , and other challenges. Antigua and Barbuda offers a citizenship by investment program. The country levies no personal income tax . Antigua
2350-529: Is nearly always allowed for recovery of costs of assets used in the activity. Rules on capital allowances vary widely, and often permit recovery of costs more quickly than ratably over the life of the asset. Most systems allow individuals some sort of notional deductions or an amount subject to zero tax. In addition, many systems allow deduction of some types of personal expenses, such as home mortgage interest or medical expenses. Only net income from business activities, whether conducted by individuals or entities
2444-473: Is only one tax bracket, or one remains within the same tax bracket, there will still be bracket creep resulting in a higher proportion of income being paid in tax. That is, although the marginal tax rate remains unchanged with inflation, the average tax rate will increase. Most progressive tax systems are not adjusted for inflation. As wages and salaries rise in nominal terms under the influence of inflation they become more highly taxed, even though in real terms
2538-756: Is responsible for the national security of Antigua and Barbuda . The Defence Force consists of the Regiment (army), the Air Wing , the Coast Guard , and the Service and Support Battalion. The Defence Force is led by the Chief of Defence Staff, who is subject to the orders of the Governor-General. The Defence Force is headquartered at Camp Blizzard . The National Security Council is responsible for
2632-648: Is tax resident and also pay tax to other country where he or she is non-resident. This creates the situation of Double taxation which needs assessment of Double Taxation Avoidance Agreement entered by the jurisdictions where the tax payer is assessed as resident and non-resident for the same transaction. Residence is often defined for individuals as presence in the jurisdiction for more than 183 days. Most jurisdictions base residence of entities on either place of organization or place of management and control. Most systems define income subject to tax broadly for residents, but tax nonresidents only on specific types of income. What
2726-449: Is taxable, with few exceptions. Many countries require business enterprises to prepare financial statements which must be audited. Tax systems in those countries often define taxable income as income per those financial statements with few, if any, adjustments. A few jurisdictions compute net income as a fixed percentage of gross revenues for some types of businesses, particularly branches of nonresidents. Nearly all systems permit residents
2820-569: Is the head of government , and is appointed by the Governor-General. The Prime Minister must be a member of the House of Representatives , and must be the member of the House of Representatives who is most likely to command the support of the majority of members. The Governor-General has the ability to dissolve Parliament on the advice of the Prime Minister, or when the majority of the members of
2914-675: Is the country's capital, major city, and largest port. Codrington is Barbuda's largest town. In 1493, Christopher Columbus surveyed the island of Antigua, which he named for the Church of Santa María La Antigua . Great Britain colonized Antigua in 1632 and Barbuda in 1678. A part of the Federal Colony of the Leeward Islands from 1871, Antigua and Barbuda joined the West Indies Federation in 1958. With
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3008-542: Is the highest point on both Antigua and Barbuda. It is the remnant of a volcanic crater and rises a total of 402 meters. Boggy Peak is located in the southwest of Antigua (1,319 feet). Both of these islands have very irregularly shaped coastlines that are dotted with beaches, lagoons, and natural harbours. There are reefs and shoals that surround the islands on all sides. Because of the low amount of rainfall, there are not many streams. On neither of these islands can sufficient quantities of fresh groundwater be found. Redonda
3102-534: Is thought to refer either to the male inhabitants of the island, or the bearded fig trees present there. Antigua was first settled by archaic age Indigenous hunter-gatherers called the Ciboney . Carbon dating has established the earliest settlements started around 3100 BC. They were succeeded by the ceramic age pre-Columbian Arawak -speaking Saladoid people who migrated from the lower Orinoco River . They introduced agriculture, raising, among other crops,
3196-536: Is usually known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each additional unit of income increases (e.g., the first $ 10,000 of income taxed at 0%, the next $ 10,000 taxed at 1%, etc.). Most jurisdictions exempt local charitable organizations from tax. Income from investments may be taxed at different (generally lower) rates than other types of income. Credits of various sorts may be allowed that reduce tax. Some jurisdictions impose
3290-627: The 2004 Antiguan general election , which was won by Winston Baldwin Spencer 's United Progressive Party (UPP). Winston Baldwin Spencer was Prime Minister of Antigua and Barbuda from 2004 to 2014. However the UPP lost the 2014 Antiguan general election , with the ABLP returning to power under Gaston Browne . ABLP won 15 of the 17 seats in the 2018 snap election under the leadership of incumbent Prime Minister Gaston Browne. In 2016, Nelson's Dockyard
3384-604: The Antigua and Barbuda Labour Party (ABLP) (Premier from 1967 to 1971 and 1976 to 1981) and the Progressive Labour Movement (PLM) of George Walter (Premier 1971–1976). Eventually, Antigua and Barbuda gained full independence on 1 November 1981; Vere Bird became prime minister of the new country. The country opted to remain within the Commonwealth , retaining Queen Elizabeth as head of state , with
3478-959: The Caribbean Community , the Alliance of Small Island States , and the World Trade Organization . Antigua and Barbuda's foreign policy has been described by Gaston Browne as "we are friends of all; enemies of none". Antigua and Barbuda has rejected the notion that it is in any country's "backyard". Antigua and Barbuda usually maintains close relations with other Small Island Developing States , and has hosted various summits on that subject. The United Nations has also praised Antigua and Barbuda for its "United Nations-based multilateralism" efforts. Antigua and Barbuda also has close relations with many Caribbean countries and territories, especially Montserrat , which Antigua and Barbuda accepted 3,000 refugees from in 1997 after
3572-502: The Peace of Amiens . Addington had taken over as prime minister in 1801, after Pitt's resignation over Catholic Emancipation . The income tax was reintroduced by Addington in 1803 when hostilities with France recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo . Opponents of the tax, who thought it should only be used to finance wars, wanted all records of
3666-759: The Progressive Labour Movement government (predecessor of the UPP) from 1971 to 1976, and the United Progressive Party government from 2004 until 2014. On Barbuda, dominant party is traditionally the Barbuda People's Movement , being the only political grouping in the Barbuda Council since 2023 . Antigua and Barbuda is composed of six parishes and two dependencies . Saint John is the most populous parish, home to well over half of Antigua and Barbuda's population. During colonial times,
3760-592: The Soufrière Hills eruption. Many policies adopted by the Antiguan and Barbudan government have also often had an impact on Montserrat, due to Antigua and Barbuda hosting the only air and transportation links into the territory. The Minister of Finance, Corporate Governance & Public Private Partnerships is responsible for the Antigua and Barbuda Defence Force , the country's military. The Minister of Legal Affairs, Public Safety, Immigration and Labour
3854-890: The Supreme Court including the High Court and the Court of Appeal, and finally the Judicial Committee of the Privy Council , the country's final court. Antiguan and Barbudan voters rejected a proposal to make the Caribbean Court of Justice the final court in 2018. Antigua and Barbuda is composed of three magistrates' courts districts, and is part of the Eastern Caribbean Supreme Court system. The acting chief justice of
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3948-547: The décima . The inception date of the modern income tax is typically accepted as 1799, at the suggestion of Henry Beeke , the future Dean of Bristol . This income tax was introduced into Great Britain by Prime Minister William Pitt the Younger in his budget of December 1798, to pay for weapons and equipment for the French Revolutionary War . Pitt's new graduated (progressive) income tax began at
4042-642: The Atlantic Ocean in the Leeward Islands part of the Lesser Antilles . The country consists of two major islands, Antigua and Barbuda , which are approximately 40 km (25 mi) apart, and several smaller islands, including Great Bird , Green , Guiana , Long , Maiden , Prickly Pear , York , and Redonda . The permanent population is approximately 97,120 (2019 estimates), with 97% residing in Antigua. St. John's , Antigua,
4136-563: The Barbudan one. When compared to Antiguan Creole , Standard English was the language of choice in the years leading up to Antigua and Barbuda's attainment of their independence. The Antiguan Creole language is looked down upon by the upper and middle classes in general. The Antiguan Creole language is discouraged from use in the educational system, and instruction is carried out in Standard (British) English instead. A significant number of
4230-637: The Exchequer from 1852, kept the progressive income tax, and extended it to cover the costs of the Crimean War . By the 1860s, the progressive tax had become a grudgingly accepted element of the United Kingdom fiscal system. The US federal government imposed the first personal income tax on August 5, 1861 , to help pay for its war effort in the American Civil War (3% of all incomes over US$ 800) (equivalent to $ 21,300 in 2023). This tax
4324-552: The Grenadines and Nigeria . An estimated 4,500 American citizens also make their home in Antigua and Barbuda, making their numbers one of the largest American populations in the English-speaking Eastern Caribbean. 68.47% of the population was born in Antigua and Barbuda. The language most commonly used in business is English . There is a noticeable distinction between the Antiguan accent and
4418-550: The House of Representatives as an ex officio member. The Attorney-General also attends sittings of the Senate. Any bill except money bills may be introduced in either chamber: money bills may only be introduced in the House. Parliament may not amend the Barbuda Local Government Act without the consent of the Barbuda Council. The judiciary of Antigua and Barbuda is composed of the magistrates' courts,
4512-535: The House of Representatives pass a motion of no confidence, and the Prime Minister does not within seven days resign or advise the Governor-General to dissolve Parliament. The legislative power of Antigua and Barbuda is vested in Parliament, which is composed of the Monarch, the Senate , and the House of Representatives . The Senate is composed of seventeen members, who are appointed by the Governor-General. Ten of
4606-577: The St. John's Development Corporation has since consumed most of its functions. The Minister of Foreign Affairs, Trade & Barbuda Affairs is responsible for overseeing the foreign relations of Antigua and Barbuda. The current minister is Paul Chet Greene . Antigua and Barbuda is a founding member of the Organisation of Eastern Caribbean States , as well as a member of the United Nations ,
4700-489: The Supreme Court is Mario Michel , serving since 5 May 2024. Since the 1990s, the two major parties in Antigua have been the centre-right (formerly left-wing) Antigua and Barbuda Labour Party , and the left-wing social democratic United Progressive Party . The Labour Party and its predecessors have traditionally been the dominant party on the national level since the 1946 general elections , with brief pauses during
4794-864: The US treat an entity as a corporation only if it is legally organized as a corporation. Estates and trusts are usually subject to special tax provisions. Other taxable entities are generally treated as partnerships. In the US, many kinds of entities may elect to be treated as a corporation or a partnership. Partners of partnerships are treated as having income, deductions, and credits equal to their shares of such partnership items. Separate taxes are assessed against each taxpayer meeting certain minimum criteria. Many systems allow married individuals to request joint assessment . Many systems allow controlled groups of locally organized corporations to be jointly assessed. Tax rates vary widely. Some systems impose higher rates on higher amounts of income . Tax rates schedules may vary for individuals based on marital status. In India on
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#17327912033674888-424: The US, these taxes generally are imposed at a fixed rate on wages or self-employment earnings up to a maximum amount per year. The tax may be imposed on the employer, the employee, or both, at the same or different rates. Some jurisdictions also impose a tax collected from employers, to fund unemployment insurance, health care, or similar government outlays. Multiple conflicting theories have been proposed regarding
4982-517: The United Kingdom, and the United States, among others, follow most of the principles outlined below. Some tax systems, such as India , may have significant differences from the principles outlined below. Most references below are examples; see specific articles by jurisdiction ( e.g. , Income tax in Australia ). Individuals are often taxed at different rates than corporations. Individuals include only human beings. Tax systems in countries other than
5076-576: The United States. In fiscal year 1918, annual internal revenue collections for the first time passed the billion-dollar mark, rising to $ 5.4 billion by 1920. The amount of income collected via income tax has varied dramatically, from 1% for the lowest bracket in the early days of US income tax to taxation rates of over 90% for the highest bracket during World War II . While tax rules vary widely, certain basic principles are common to most income tax systems. Tax systems in Canada, China, Germany , Singapore ,
5170-474: The advice of the Barbuda Council , and an independent senator is appointed under the discretion of the Governor-General himself. The House of Representatives is currently composed of seventeen elected members, as well as the Speaker of the House , who is elected by the members of the House itself. The Attorney General , while currently an elected member of Parliament, Steadroy Benjamin , may also be appointed to
5264-779: The ages of 5 and 16 years. The system is modeled on the British educational system. The current Minister of Education, Sport & Creative Industries is Daryll Sylvester Matthew . The adult literacy rate in Antigua and Barbuda is approximately 99%. A majority (77%) of Antiguans are Christians, with the Anglicans (17.6%) being the largest single denomination. Other Christian denominations present are Seventh-day Adventist Church (12.4%), Pentecostalism (12.2%), Moravian Church (8.3%), Roman Catholics (8.2%), Methodist Church (5.6%), Wesleyan Holiness Church (4.5%), Church of God (4.1%), Baptists (3.6%), Mormonism (<1.0%), as well as Jehovah's Witnesses . Antigua and Barbuda
5358-500: The breakup of the federation in 1962, it became one of the West Indies Associated States in 1967. Following a period of internal self-governance, it gained full independence from the United Kingdom on 1 November 1981. Antigua and Barbuda is a member of the Commonwealth and a Commonwealth realm ; it is a constitutional monarchy with Charles III as its head of state. The economy of Antigua and Barbuda
5452-604: The coordination of Antigua and Barbuda's national security. The National Security Adviser is a member of the council and is responsible for the gathering of intelligence and information on national security matters. The Royal Police Force of Antigua and Barbuda is the national police department. The Special Service Unit is Antigua and Barbuda's police tactical unit . The Police Force is composed of four lettered regional divisions, and subordinated service districts. Same-sex sexual activity has been legal in Antigua and Barbuda since July 2022. Income tax An income tax
5546-487: The corporation. Deductions typically include all income-producing or business expenses including an allowance for recovery of costs of business assets. Many jurisdictions allow notional deductions for individuals and may allow deduction of some personal expenses. Most jurisdictions either do not tax income earned outside the jurisdiction or allow a credit for taxes paid to other jurisdictions on such income. Nonresidents are taxed only on certain types of income from sources within
5640-444: The economic impact of income taxes. Income taxes are widely viewed as a progressive tax (the incidence of tax increases as income increases). Some studies have suggested that an income tax does not have much effect on the numbers of hours worked. Tax avoidance strategies and loopholes tend to emerge within income tax codes. They get created when taxpayers find legal methods to avoid paying taxes. Lawmakers then attempt to close
5734-401: The famous Antigua Black Pineapple ( Ananas comosus ), corn , sweet potatoes , chiles , guava , tobacco, and cotton. Later on the Caribs settled the island. Christopher Columbus was the first European to sight the islands in 1493. The Spanish did not colonise Antigua until after a combination of European and African diseases, malnutrition, and slavery eventually extirpated most of
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#17327912033675828-511: The first governor , Sir Wilfred Jacobs , as governor-general . Succeeding Sir Wilfred Jacobs were Sir James Carlisle (June 10, 1993 – June 30, 2007), Dame Louise Lake-Tack (July 17, 2007 – August 14, 2014.), and the present governor, Sir Rodney Williams: (August 14, 2014 – present). The first two decades of Antigua's independence were dominated politically by the Bird family and the ABLP, with Vere Bird ruling from 1981 to 1994, followed by his son Lester Bird from 1994 to 2004. Though providing
5922-521: The following rebuilding efforts on Barbuda that were estimated to cost at least $ 100 million, the government announced plans to revoke a century-old law of communal land ownership by allowing residents to buy land; a move that has been criticised as promoting " disaster capitalism ". Limestone formations, rather than volcanic activity, have had the most impact on the topography of both Antigua and Barbuda, which are both relatively low-lying islands. Boggy Peak, also known as Mt. Obama from 2008 to 2016,
6016-430: The gross amount of income of most types plus the net business income earned within the jurisdiction. Expenses incurred in a trading, business, rental, or other income producing activity are generally deductible, though there may be limitations on some types of expenses or activities. Business expenses include all manner of costs for the benefit of the activity. An allowance (as a capital allowance or depreciation deduction)
6110-416: The higher of an income tax or a tax on an alternative base or measure of income. Taxable income of taxpayers' resident in the jurisdiction is generally total income less income producing expenses and other deductions. Generally, only net gain from the sale of property, including goods held for sale, is included in income. The income of a corporation's shareholders usually includes distributions of profits from
6204-435: The history of civilization , these preconditions did not exist, and taxes were based on other factors. Taxes on wealth , social position, and ownership of the means of production (typically land and slaves ) were all common. Practices such as tithing , or an offering of first fruits , existed from ancient times, and can be regarded as a precursor of the income tax, but they lacked precision and certainly were not based on
6298-616: The income tax unconstitutional , the 10th amendment forbidding any powers not expressed in the US Constitution, and there being no power to impose any other than a direct tax by apportionment. In 1913, the Sixteenth Amendment to the United States Constitution cleared the unconstitutionality obstacle which previously had not allowed for the implementation of a federal income tax before 1913 in
6392-624: The island are further made worse by climate change , where, not unlike other island nations affected by climate change , sea level rise and increased weather variability, create increased pressures on the communities on the islands and the land, through processes like coastal erosion and saltwater intrusion . Antigua has a population of 93,219, mostly made up of people of West African , British, and Portuguese descent. The ethnic distribution consists of 91% Black, 4.4% mixed race, 1.7% White, and 2.9% other (primarily East Indian ). Most Whites are of British descent. Christian Levantine Arabs and
6486-415: The island has since remained uninhabited. Part of the Leeward Islands colony, Antigua and Barbuda became part of the short-lived West Indies Federation from 1958 to 1962. Antigua and Barbuda subsequently became an associated state of the United Kingdom with full internal autonomy on 27 February 1967. The 1970s were dominated by discussions as to the islands' future and the rivalry between Vere Bird of
6580-615: The jurisdiction is generally total income less income producing expenses and other deductions. Generally, only net gain from the sale of property, including goods held for sale, is included in income. The income of a corporation's shareholders usually includes distributions of profits from the corporation. Deductions typically include all income-producing or business expenses including an allowance for recovery of costs of business assets. Many jurisdictions allow notional deductions for individuals and may allow deduction of some personal expenses. Most jurisdictions either do not tax income earned outside
6674-462: The jurisdiction or allow a credit for taxes paid to other jurisdictions on such income. Nonresidents are taxed only on certain types of income from sources within the jurisdictions, with few exceptions. The concept of taxing income is a modern innovation and presupposes several things: a money economy , reasonably accurate accounts , a common understanding of receipts, expenses and profits , and an orderly society with reliable records. For most of
6768-410: The jurisdiction. See, e.g. , the discussion of taxation by the United States of foreign persons . Residents, however, are generally subject to income tax on all worldwide income. A handful of jurisdictions (notably Singapore and Hong Kong) tax residents only on income earned in or remitted to the jurisdiction. There may arise a situation where the tax payer has to pay tax in one jurisdiction he or she
6862-399: The jurisdictions, with few exceptions. Most jurisdictions require self-assessment of the tax and require payers of some types of income to withhold tax from those payments. Advance payments of tax by taxpayers may be required. Taxpayers not timely paying tax owed are generally subject to significant penalties, which may include jail-time for individuals. Taxable income of taxpayers resident in
6956-517: The loopholes with additional legislation. That leads to a vicious cycle of ever more complex avoidance strategies and legislation. The vicious cycle tends to benefit large corporations and wealthy individuals that can afford the professional fees that come with ever more sophisticated tax planning, thus challenging the notion that even a marginal income tax system can be properly called progressive. The higher costs to labour and capital imposed by income tax causes dead weight loss in an economy, being
7050-495: The loss of economic activity from people deciding not to invest capital or use time productively because of the burden that tax would impose on those activities. There is also a loss from individuals and professional advisors devoting time to tax-avoiding behaviour instead of economically productive activities. Bracket creep is usually defined as the process by which inflation pushes wages and salaries into higher tax brackets , leading to fiscal drag . However, even if there
7144-462: The main islands. Rainfall averages 990 mm (39 in) per year, with the amount varying widely from season to season. In general the wettest period is between September and November. The islands generally experience low humidity and recurrent droughts. Temperatures average 27 °C (80.6 °F), with a range from 23 °C (73.4 °F) to 29 °C (84.2 °F) in the winter to from 25 °C (77.0 °F) to 30 °C (86.0 °F) in
7238-516: The members are appointed on the advice of the Prime Minister, these members being known as government senators. An eleventh government senator is also appointed on the advice of the Prime Minister, who must be an inhabitant of Barbuda. Four of the members are appointed on the advice of the Leader of the Opposition , these senators being known as opposition senators. One of the members is appointed on
7332-511: The native population; smallpox was probably the greatest killer. The English settled on Antigua in 1632; Christopher Codrington settled on Barbuda in 1685. Tobacco and then sugar was grown, worked by a large population of slaves transported from West Africa, who soon came to vastly outnumber the European settlers. The English maintained control of the islands, repulsing an attempted French attack in 1666. The brutal conditions endured by
7426-479: The other hand there is a slab rate system, where for income below INR 2.5 lakhs per annum the tax is zero percent, for those with their income in the slab rate of INR 2,50,001 to INR 5,00,000 the tax rate is 5%. In this way the rate goes up with each slab, reaching to 30% tax rate for those with income above INR 15,00,000. Residents are generally taxed differently from non-residents. Few jurisdictions tax non-residents other than on specific types of income earned within
7520-560: The parishes were governed by parish vestries, however, the parishes now lack any sort of government. Since the 2023 general elections, various proposals have been made to establish parish councils, however, as of June 2024, none have been established. The dependency of Redonda is part of the parish of Saint John under the Redonda Annexation Act, in Magistrates' District "A". Local government in Antigua and Barbuda
7614-502: The situation as follows: "Public utilities need to be rebuilt in their entirety... It is optimistic to think anything can be rebuilt in six months ... In my 25 years in disaster management, I have never seen something like this." Like other island nations , Antigua and Barbuda faces unique environmental issues created by its proximity to the ocean, and small size. These include pressures on drinking water resources, natural ecosystems, and deforestation more generally. Existing issues on
7708-495: The slaves led to revolts in 1701 and 1729 and a planned revolt in 1736, the last led by Prince Klaas , though it was discovered before it began and the ringleaders were executed. Slavery was abolished in the British Empire in 1833, affecting the economy. This was exacerbated by natural disasters such as the 1843 earthquake and the 1847 hurricane. Mining occurred on the isle of Redonda , however, this ceased in 1929 and
7802-671: The summer and autumn. The coolest period is between December and February. Hurricanes strike on an average of once a year, including the powerful Category 5 Hurricane Irma , on 6 September 2017, which damaged 95% of the structures on Barbuda. Some 1,800 people were evacuated to Antigua. Officials quoted by Time indicated that over $ 100 million would be required to rebuild homes and infrastructure. Philmore Mullin, Director of Barbuda's National Office of Disaster Services, said that "all critical infrastructure and utilities are non-existent – food supply, medicine, shelter, electricity, water, communications, waste management". He summarised
7896-500: The tax administration of the country or by the payer using formulas provided by the tax administration. Payees are generally required to provide to the payer or the government the information needed to make the determinations. Withholding for employees is often referred to as "pay as you earn" ( PAYE ) or "pay as you go." Income taxes of workers are often collected by employers under a withholding or pay-as-you-earn tax system. Such collections are not necessarily final amounts of tax, as
7990-606: The tax destroyed along with its repeal. Records were publicly burned by the Chancellor of the Exchequer , but copies were retained in the basement of the tax court. In the United Kingdom of Great Britain and Ireland , income tax was reintroduced by Sir Robert Peel by the Income Tax Act 1842 . Peel, as a Conservative , had opposed income tax in the 1841 general election , but a growing budget deficit required
8084-449: The tax. Self-assessment means the taxpayer must make a computation of tax and submit it to the government. Some countries provide a pre-computed estimate to taxpayers, which the taxpayer can correct as necessary. The proportion of people who pay their income taxes in full, on time, and voluntarily (that is, without being fined or ordered to pay more by the government) is called the voluntary compliance rate . The voluntary compliance rate
8178-419: The territorial system, only local income – income from a source inside the country – is taxed. In the residential system, tax residents of the country are taxed on their worldwide (local and foreign) income, while non-residents are taxed only on their local income. In addition, a very small number of countries, notably the United States , also tax their non-resident citizens on worldwide income. Countries with
8272-655: The value of the wages and salaries has not increased at all. The net effect is that in real terms taxes rise unless the tax rates or brackets are adjusted to compensate. Many types of income are subject to income tax, which is very variable. It all depends on the country and its tax laws. In general, countries impose taxes on income from wages, salaries, interest, dividends, and rental income. The most typical ones are wage and salary, which are almost always subject to taxation withheld by employers. Some one-time payments such as bonuses paid to employees are taxable. Dividends and interest (stocks or bonds) are usually also taxed. There
8366-481: The words that are used in the Antiguan dialect are derived from both the British and African languages. This is readily apparent in phrases such as "Innit?" which literally translates to "Isn't it?" Many common island proverbs can be traced back to Africa, such as the pidgin language. Approximately 10,000 people are able to speak in Spanish. Education in Antigua and Barbuda is compulsory and free for children between
8460-411: The worker may be required to aggregate wage income with other income and/or deductions to determine actual tax. Calculation of the tax to be withheld may be done by the government or by employers based on withholding allowances or formulas. Nearly all systems require those whose proper tax is not fully settled through withholding to self-assess tax and make payments prior to or with final determination of
8554-416: The world is a difficult and somewhat subjective enterprise. Tax laws in most countries are extremely complex, and tax burden falls differently on different groups in each country and sub-national unit. Of course, services provided by governments in return for taxation also vary, making comparisons all the more difficult. Countries that tax income generally use one of two systems: territorial or residential. In
8648-422: Was designated as a UNESCO World Heritage Site . Most of Barbuda was devastated in early September 2017 by Hurricane Irma , which brought winds with speeds reaching 295 km/h (185 mph). The storm damaged or destroyed 95% of the island's buildings and infrastructure, leaving Barbuda "barely habitable" according to Prime Minister Gaston Browne. Nearly everyone on the island was evacuated to Antigua. Amidst
8742-598: Was one year of hard labor and confiscation of the entirety of a person's property. Because it caused popular discontent, this income tax was abolished in 22 CE. In the early days of the Roman Republic , public taxes consisted of modest assessments on owned wealth and property. The tax rate under normal circumstances was 1% and sometimes would climb as high as 3% in situations such as war. These modest taxes were levied against land, homes and other real estate, slaves, animals, personal items and monetary wealth. The more
8836-476: Was repealed and replaced by another income tax in 1862. It was only in 1894 that the first peacetime income tax was passed through the Wilson-Gorman tariff . The rate was 2% on income over $ 4000 (equivalent to $ 126,000 in 2023), which meant fewer than 10% of households would pay any. The purpose of the income tax was to make up for revenue that would be lost by tariff reductions. The US Supreme Court ruled
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