St. Maarten government seeks Caribbean Organisation of Tax Administrators membership
THURSDAY, 12 JULY 2012
PHILIPSBURG--Finance Minister Roland Tuitt heads toTrinidadJuly 18-23 to lobby for the country’s membership in the Caribbean Organisation of Tax Administrators (COTA), the fiscal arm of the Caribbean Community Caricom.
Tuitt told the press on Wednesday it’s important for St. Maarten to become a member because it will open the possibility to sign on to the multilateral agreement the organisation already has among its members. The agreement tackles double taxation and collection of taxes among other benefits.
With that agreement with COTA, St. Maarten can improve relationships and combat tax evasion, the minister added.
The COTA session includes a technical meeting and the general assembly.
COTA was established in 1971 at a meeting of the Heads of Regional Tax Administration convened inSaint Luciawhen its Constitution was ratified. The Constitution was subsequently approved in October 1972 by the Standing Committee of Ministers of Finance inTrinidad and Tobago.
TheNetherlands Antilles, prior to its dismantling in October 2010, was a member of COTA.
St. Maarten has also applied for associate membership to Caricom.