The International Monetary Fund has issued a compelling call for Antigua and Barbuda to intensify its pace of fiscal reforms, emphasizing that accelerated modernization of tax administration and customs operations is vital for enhancing revenue collection capabilities. Following its comprehensive Article IV consultation assessment, the IMF underscored that technological transformation represents the cornerstone of effective fiscal governance.
IMF analysts identified the implementation of advanced information technology systems across revenue agencies as an immediate priority, noting that antiquated procedures persistently hinder compliance rates and operational efficiency. The Fund specifically advocated for the rapid deployment of electronic filing platforms and digital payment solutions, asserting that such innovations would simultaneously simplify taxpayer obligations and minimize administrative overhead and revenue leakage.
Customs infrastructure emerged as another critical reform area, with the IMF pushing for expedited adoption of HS 2022 customs standards alongside comprehensive modernization of border procedures. The elimination of bureaucratic impediments to trade and competitiveness was highlighted as essential for economic growth.
The establishment of a specialized large taxpayer unit received particular emphasis as a strategic initiative to strengthen oversight of major revenue contributors, enhance compliance mechanisms, and stabilize fiscal inflows. The IMF cautioned that timely execution of these technological and administrative enhancements remains crucial for consolidating recent improvements in tax performance.
While acknowledging Antigua and Barbuda’s progressive steps in recent years, the Fund maintained that sustained reform momentum is necessary to achieve durable revenue mobilization and reduce dependence on irregular revenue sources. The recommended measures are projected to support the nation’s medium-term objective of elevating tax revenues to approximately 20 percent of GDP.