Caribbean Times 81st Issue

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6 c a r i b b e a n t i m e s . a g Monday 23rd January 2017 Antigua & Barbuda welcome Norwegian Jade By Joanna Paris After achieving the competed status of being one of the fastest growing economies in Latin America and the <strong>Caribbean</strong>, the Gaston Browne led administration have indicated that new mechanisms will be implemented to increase revenue. Minister of Finance and Corporate Governance, the Honourable Gaston Browne said during the Budget presentation on Friday that these interventions will focus on strengthening tax administration rather than the introduction of new tax measures. He emphasized that the enactment of an updated Tax Administration Procedures Act (TAPA) will be at the heart of this effort. He also announced that the Inland Revenue Department will be creating a number of strategies to collect outstanding monies. “The Inland Revenue Department will also implement a plan to collect tax arrears, which will involve taking decisive legal action against non-compliant taxpayers. “The IRD will also work more closely with other Government agencies, through the establishment of MOUs, to complete the circle of information regarding activities of taxpayers to help improve tax assessments and revenue collection”, he said. Plans will also be put in place for a cap to be placed on discretionary tax waivers particularly in respect of the Import Duty and the Revenue Recovery Charge. The revenue collection from these and other border taxes will be bolstered By Joanna Paris With a capacity to carry two thousand four hundred and two passengers and one thousand and thirty-seven crew members, the Norwegian Jade docked at the nation’s port for the first time on Friday. The vessel features a wide array of award winning restaurants, casino, spa, theatre and other special amenities. A welcoming party comprising tourism officials, customs personnel, high ranking police officers, other specially invited guests and the media were greeted by the ship’s captain. President of the Antigua and Barbuda Cruise Tourism Association, Nathan Dundas, said that negotiations with the cruise line have finally borne fruit. “We want to officially welcome the captain, crew and passengers of the Norwegian Jade to Antigua. Even though this will be their only call this season, we are sure that we would have impressed them enough to ensure that that they make us a part of their itinerary next season”, he said. The Captain of the vessel, Kim Karlsson said that he is very happy to see the numerous developments that have taken place on the island. “You have certainly done a lot of work here and it’s good to see all of this progress”, he indicated. There ceremony also featured the exchange of plaques to serve as a memory of the inaugural visit. New strategies to increase revenue by the implementation of ASUCYDA World. “These interventions will result in an increase in the yield from Property Tax, the Unincorporated Business Tax, Stamp Duties, the Import Duty, Revenue Recovery Charge, Antigua and Barbuda Sales Tax, and the Corporate Income Tax. The Government is of the view that this is a feasible fiscal strategy that represents an attainable level of fiscal effort for 2017”, he asserted. He described the mechanisms as a credible indication of Antigua and Barbuda’s commitment to pursuing a prudent and responsible fiscal path towards debt sustainability. This, he added will be achieved without sacrificing economic growth and employment or compromising the standard of living of the population.
Monday 23rd January 2017 c a r i b b e a n t i m e s . a g 7 Construction and completion of key facilities to take place this year By Joanna Paris Prime Minister and Minister of Finance and Corporate Governance, the Hon. Gaston Browne has announced the construction and completion of a number of new buildings, which will assist the government in saving money otherwise that would be paid for rent. While outlining the budgetary allocations for the year 2017, Prime Minister Browne said that the headquarters for the Antigua Department of Marine Services and the State Insurance Corporation office buildings will be completed later this year. Both he noted will save rental costs. He also indicated that the West Indies Oil Company will continue the construction of its storage tanks and The Government of Prime Minister Gaston Browne has pledged to expand the housing development programme it started upon entering in office in 2014. Prime Minister the Honourable Gaston Browne while delivering the Budget Statement in Parliament on Friday said that the housing programme which was created to address the problem of home ownership and the poor quality of housing in certain areas in the country will be expanded to cover a wider area of need. He said that this will be done through the National will also develop a business park on Friars Hill Road. The sister isle will not be left out of the equation. “the Port and Airport infrastructure development in Barbuda will commence in 2017, and the logistical arrangements to make Barbuda a port of entry will be finalized”, he said. The audience was also told about a five-storey state-of-the-art Business Process Outsourcing office building, located at Woods Estate that is also scheduled for completed. “This US$25 million project is expected to provide over 800 jobs and boost Antigua and Barbuda’s attractiveness as an International Financial Services Centre. Our Government will partner with Amazon and the Alorica Housing and Urban Renewal Company Limited which has assets of over 120 Million dollars. “Preparatory work has begun in Lightfoot, including grading of the site. Actual construction of the houses is scheduled to begin by the third quarter of 2017. “We will also build a number of homes in Barbuda. In addition, our government’s social housing project will commence later this year at Booby Alley in the Point and will subsequently be expanded to include Grays Farm, Green Bay, Perry Bay and Ottos.” Since the commencement of the programme, government has constructed a number of two, three and four bedroom houses at Dredge Bay, Denfields (Cooks Extension), Paynters and Lightfoot. The country’s leader said that the expanded social housing programme will be heavily subsidized and will target the poor and vulnerable in poor communities. “The housing programme will be augmented with increased availability of affordable housing plots, and supporting tax concessions on building material, furnishings and fixtures for Call Centre, located at Coolidge to construct a call center facility at the Five Islands Campus. This will provide a further 500 jobs in 2017”, the nation’s leader said. He also further committed to the construction of a third cruise ship pier at Point Wharf to accommodate the world’s largest Oasis Class ships at a cost of $108 million. “This project will ensure that Antigua is able to welcome many more thousands of cruise ship passengers, with every call benefiting vendors, taxi drivers, restaurants, tour operators and the business community. This investment will also help us to reach the target of a million cruise ship passengers within the next two years”, Prime Minister Browne stated. Housing scheme to expand in 2017 first time home owners. “These housing lots will be retailed for $5.00 per foot to include infrastructural costs. “My government will also make larger development plots available at $3.00 per square foot, to promote increased entrepreneurship in building a stakeholder society,” he said. The country’s leader also revealed that several senior citizen recreational facilities will be constructed across the island in promotion of good health and wellness. No one will be left behind, he remarked.
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Caribbean Times 81st Issue

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