Part XIII - Exemption from taxes and duties

90. Exemption from taxes and duties

PART XIII – EXEMPTION FROM TAXES AND DUTIES

90. Exemption from taxes and duties

• (1) A limited liability company to which this Act applies is exempt from
  • (a) all income tax, including all tax based upon appreciation of limited liability company property;
  • (b) all estate, estate, inheritance, bequest or gift tax payable with respect to limited liability company property by reason of any death, or any transfer of property to or from the limited liability company, provided the transfer is without consideration;
  • (c) all stamp duty with respect to all instruments relating to limited liability company property or to transactions carried out by a trustee on behalf of the trust, or by any entity owned by the limited liability company; and
  • (d) all exchange controls, including controls on the maintenance, investment, transfer or exchange of currencies in Antigua and Barbuda or in any other location.
• (2) For the purposes of paragraph (1)(b), a transfer of property to an entity as capital contribution in return for an equity interest in the entity shall be deemed without consideration.
• (3) Notwithstanding subsection (1), and subject to any other law of Antigua and Barbuda, a limited liability company registered under this Act shall not be exempt from
  • (a) tax on income derived from the sale or rental of property in Antigua and Barbuda unless the tax is paid by another person;
  • (b) tax on income derived from the sale of equity or other interests in an entity incorporated or otherwise registered in Antigua and Barbuda and doing business in Antigua and Barbuda unless the tax is paid by another person; or
  • (c) tax arising from or relating to the conduct of business or ownership of property in Antigua and Barbuda unless the tax is paid by another person