The Personal Income Tax Amendment Act, 2006.pmd
No. 25 of 2006. ANTIGUA

AND

BARBUDA

The Personal Income Tax (Amendment)

Act, 2006.
1

ANTIGUA AND BARBUDA

No. 25 of 2006

AN ACT to amend the Personal Income Tax Act, 2005, to authorise

deductions from taxable income in respect of interest payable

under residential mortgages and in respect of contributions

to taxpayers’ approved pensions schemes.

[ Published in the Official Gazette Vol. XXVI

No. 78 dated 28th December, 2006. ]

ENACTED by the Parliament of Antigua and Barbuda as

follows:

1. This Act may be cited as the Personal Income Tax

(Amendment) Act, 2006.

2. Section 9 of the Personal Income Tax Act, 2005 shall be

amended by adding at the end the following subsection—

“(4) For the purposes of ascertaining the income referred

to in this section there shall be deducted—

(a) an amount in respect of interest paid by a taxpayer

in that income year upon any money borrowed by

him on condition that—

(i) the amount deducted in any one income year

shall not exceed 25% of the amount of interest

payable during that income year on the loan

Citation.

Amendment of

section 9.

[ L.S.]

I Assent,

James B. Carlisle,

Governor-General.

17th November, 2006.

No. 25 of 2006.The Personal Income Tax (Amendment)

Act, 2006.

ANTIGUA

AND

BARBUDA

2

in respect of which the deduction is made, or

such other percentage as may be prescribed

in regulations made under this Act;

(ii) the amount deducted in any one income year

shall not exceed 50% of the tax payable in the

relevant income year before any deductions

under this Act are made or such other

percentage as may be prescribed in regulations

made under this Act;

(iii) the loan in respect of which the deduction is

made have been secured on the taxpayer’s

residence by way of legal mortgage;

(iv) a taxpayer shall only be entitled to make one

deduction under this subsection in any one

income year; and

(v) the deduction is made in accordance with any

regulations made under this Act; and

(b) an amount in respect of conditions made by the

taxpayer or his employer to an approved pension

fund in accordance with regulations made under this

Act.”

________

Printed at the Government Printing Office, Antigua and Barbuda,

by Eric T. Bennett, Government Printer

— By Authority, 2006.

800—12.06 [ Price $1.55 ]

Passed by the House of Representatives

this 14th day of November, 2006.

D. Giselle Isaac-Arrindell,

Speaker.

Yvonne Henry,

Clerk to the House of Representatives.

Passed by the Senate this

17th day of November, 2006.

Hazlyn M. Francis,

President.

Yvonne Henry,

Clerk to the Senate.

No. 25 of 2006. ANTIGUA

AND

BARBUDA

The Personal Income Tax (Amendment)

Act, 2006.
3

ANTIGUA AND BARBUDA

THE PERSONAL INCOME TAX (AMENDMENT) ACT, 2006

ARRANGEMENT OF SECTIONS

Sections

1. Citation.

2. Amendment of section 9.