ANTIGUA & BARBUDA MARINE ASSOCIATION

NEWS AND SPECIALS

Back to Antigua & Barbuda Marine Association

YACHTING INDUSTRY THREATENED BY ABST
Monday 29th October 2012

On October 22, 2012, Observer Media published a story by Rory Butler outlining concerns of the Antigua and Barbuda Marine Association (ABMA) with respect to the application of ABST to some yachting-related services.

'ST JOHN’S, Antigua – President of the Antigua & Barbuda Marine Association Franklyn Braithwaite is warning that recent gains in the yachting industry could be lost entirely to a sales tax issue.

Yachtsmen have increasingly been choosing to store their boats in Antigua’s safe harbours – boosting the local industry, according to Braithwaite.

He said the preference is in light of insurance companies changing a longstanding policy that meant yachts in the Caribbean would only be covered during the hurricane season if they were kept in Grenada or in a lower island.

Hurricane Ivan convinced insurance companies to change that policy and Antigua’s safe harbours have convinced yacht owners to store their boats here.

“It means instead of just giving us the high season of yachting, it does give us lots of boats stored here over the summer season and what that means is summer work for a lot of the companies here,” Braithwaite said.

But Braithwaite warns that the boost will be short-lived unless changes are made to the Antigua & Barbuda Sales Tax (ABST).

“When the ABST came on stream, yachting wasn’t taken into consideration and so there is a part of the ABST that does affect the industry big time and can have an adverse affect on what happens come next summer,” Braithwaite said.

“Once these people get back here and find they have all been charged 15 per cent on their bill that they’re not normally charged, they are going to head off. If something isn’t done, then we are going to see a major exit out of Antigua come end of next season,” he added.

Braithwaite said the Marine Association has approached the authorities to tackle the problem and is hoping for a solution.

The Marine Association head said a study conducted in 2009 suggested that the yachting industry brings in three times more to the economy here than the cruise industry.'


Click here for all News and Specials for Antigua & Barbuda Marine Association

 
connect with antiguanice.com
FacebookTwitterYoutubeNewsletterRSS

contact
NAME: Secretariat
TEL: +1 (268) 562 - 5085
EMAIL: info@abma.ag
FIND US ON: Facebook
LOCATION: 9 View Map
WEBSITE: Click here

news and specials

ABMA MEETING MINUTES & QUESTIONS

Tuesday 5th June 2018
For those of you who were unable to attend the last meeting, the minutes are available....
Read More

ABMA MARCH NEWSLETTER

Wednesday 4th April 2018
The latest newsletter from the ABMA highlights upcoming regattas and local yachting news....
Read More

ABMA ANNOUNCES NEW JOLLY HARBOUR SUB-COMMITTEE & BOARD MEMBER

Friday 3rd November 2017
Karen Van Rensburg has been appointed to the Board as representative....
Read More

CUSTOMS CLEARANCE OF AID & IMMIGRATION PROCEDURES FOR BARBUDA AND DOMINICA

Friday 20th October 2017
ABMA has sought clarification for the procedures needed to be followed by any vessel bringing aid in...
Read More

ANTIGUA MARINAS, MARINE SERVICES & RELATED BUSINESSES READY FOR THE SEASON

Friday 20th October 2017
The Antigua Yachting industry and all its support infrastructure including marinas, marine service b...
Read More

All News Stories and Specials