The purpose of this Seminar is to pull expertise from private and public sector together to contribute to the discussion about a new tax system for the country St. Maarten. Many times we hear that the present tax system is too complicated and consequently the cost too high and the compliance too low. A well balanced tax system, a system of legislation, execution and collection, is crucial for the future development of the country. It on the one hand provides the means to government to properly execute its tasks, on the other hand it can be used as a tool to regulate and stimulate economic activities. Many times we hear that simplification of the tax laws would be a solution, simplification in terms of number of taxes, tax exemptions, moving from direct to indirect taxes, etc. Simplification in the tax laws is just one aspect, simplification in the execution of the levying tasks and collection is another.
This seminar is not looking at the simplification aspect alone. Through the variety in speakers this seminar should give us a broader view about the tax system that the country should put in place, be it a modification of the present system or some magical system that brings us prosperity at the lowest possible tax burden.
The tentative program will be as follows:
Moderator Mr. Dennis. Richardson, Project Director Constitutional Reconstruction Sint Maarten
Address by Commissioner of Constitutional Affairs, Mrs. Sarah Wescot-Williams
Introduction Commissioner of Finance, Mr. Roy Marlin
Session I Tax Harmonization with the Collectivity Saint Martin
Presenter: Mr. Louis Constant Fleming, President of the Collectivity of Saint Martin
Subjects: Tax system Saint Martin, possibilities of harmonization and the consequences of dis-harmony
Session II Present Tax System, Tax Revenues and Operating Cost
Presenter: Mrs. Sherry Hazel, Island Receiver
Subjects: overview present tax laws, development tax revenue last 5 years, cost of maintaining the present system, compliance and control.
Session III Core tasks of Government,
Presenter: Special Guest speaker Mr. Alberto Romero, Vice President of the Central Bank of the Netherlands Antilles
Subjects: Government core tasks, government and market mechanism, public-private sector initiatives.
Session IV Tax Systems Small Communities
Presenter: Special Guest speaker from Anguilla, Mr. Victor Banks, Minister of Finance of Anguilla
Subjects: overview of the system on Anguilla, the advantages and bottlenecks.
Session V Tax Burden, Social Security Premiums, Flat Tax, Tax Incentive, International tax treaties
Presenter: Foundation Tax Committee
Subjects: tax and economic issues
Registration by telephone at 5420448 ask for Jennifer Johnson or Rissa Proctor or