BASSETERRE, St. Kitts – ACTING PRIME MINISTER and Minister of Education, Hon. Shawn Richards has urged Tax Administration officials from across the region to better capture outstanding taxes in order to bolster their economic activities.
That plea comes against the backdrop of delinquent taxpayers, as the region’s economy continues to grapple with uncertain economic activities coming off of the 2008 global financial crisis.
Providing the keynote speech at the Caribbean Organization of Tax Administration 24th General Assembly and Technical Conference at the St. Kitts Marriott Resort today (Jul. 24), Richards explained that as the region continues to grapple with challenges inherited from the global slowdown, governments are well aware of the pressing obligations to their citizenry.
That is, to ensure that citizens live in a safe space that has economic activities for individual prosperity and businesses alike, Richards said.
He added that every state in CARICOM has the common goal of “creating, maintaining and sustaining an economic and social environment that stimulates innovation, productivity and wealth creation”.
And as tax administrators, Richards reminded that they have the invaluable role and tremendous responsibility of assisting the governments of the region to achieve those goals.
“You are the collectors of our revenues and the managers of our revenue system,” Richards said.
According to Richards, the base of the region’s economy differ among member states, explaining that while for some of those said economies the major sources of revenue have been affected through low food prices or international pressures; all of which continue to be affected by negative performances in international economies.
The Minister was adamant that even as the region overcomes old obstacles, new challenges are emerging.
Director of Economic Policy and Development at CARICOM Secretariat, Evelyn Wayne saluted the COTA members for convening the 24th meeting.
She indicated that though the meeting is being held one year later than its usual schedule, it is testament to the determination of strength and purpose that characterizes CARICOM’s tax administrators.
She noted that a new General Council was implemented, of which St. Kitts and Nevis is a part, and is headed by Guyana.
Wayne stated that though the work programme of the previous COTA General Council has not progressed as intended, she is happy to report that they have developed a number of initiatives designed to promote and raise the viability of that body.
“These initiatives include a COTA Tax Data Base, a CARICOM Tax Professionals Network and a COTA Technical Working Group.”
The COTA meeting wraps up on Friday (Jul. 28).
