Tax Commissioners Meet In St. Lucia
Basseterre, May 14, 2002 The Tax Reform and Administration Commission has highlighted the need for improved tax systems in the Eastern Caribbean Currency Union. In reviewing the tax administration systems at the fourth meeting of the Commission held in St Lucia on May 10 and 11, the Tax Commissioners identified several areas for attention. These included the redesign of tax administration procedures and the legal framework in order to increase tax compliance and enforcement; an integration of the information systems of government agencies and the streamlining of tax coordination efforts. Having also reviewed existing consumption-based taxes in the ECCU, the Commission noted that for the successful adoption of such taxes, certain matters would have to be considered. These included the impact on savings and investment in the context of fiscal targets; the need for training and education; and equity and economic considerations as against administration and compliance costs. While in St Lucia, the Commissioners also met with the Prime Minister and technical staff of the Ministry of Finance, as well as with representatives of the private sector. The next meeting of the Commission is scheduled to take place in St Kitts from June 25-27, 2002.
Eastern Caribbean Central Bank
P O Box 89, Basseterre,
St. Kitts
Contact Person: Elizabeth Tempro, Director Corporate Relations Department
Phone: (869) 465-2537
Fax: (869) 466-2873
Email: eccbinfo@caribsurf.com
