#Providenciales, July 25, 2019 – Turks and Caicos – PThe Caribbean Organisation of Tax Administrators (COTA) hosted its 25th General Assembly & Technical Conference at the Shore Club, Providenciales on Monday, 22ndJuly 2019.
The Premier and Minister for Finance Hon. Sharlene Cartwright-Robinson in attendance at the opening ceremony for the General Assembly delivered the feature address on the global advancements in technology and its effects on Tax Administrations across the Caribbean region and throughout the world.
Tax administrations have made many efforts to keep abreast of this growth in technology. Statistics would show that within the past few years an unprecedented flow of information mixed with an increased use of social media has complicated tax matters and as a result countries’ tax systems are left to feel the effects.
Premier Robinson during her remarks stated; “In the Turks & Caicos, we continue to see leakages in our Hotel, Restaurant and Accommodation Tax with the utilization of online booking applications such as AirBnB, bookings.com etc. and innovative tax treatments of large international hoteliers. It is imperative that Caribbean Tax Administrations seek to carry out the necessary reforms required to move our tax administrations, tax procedures and tax policies to the digital age.
We should explore the creation of innovative compliance strategies that address and embrace the age of technology; update our legislative framework to address issues that may arise as a result of digitalization, and most importantly make the necessary investments, as Governments, to ensure that tax administrations are provided with the obligatory Tax Technology and Infrastructure.
This conference has come in no better time than now! I applaud this initiative of the Caribbean Organization of Tax Administration for putting together this conference and an agenda that will adequately address many of the concerns that are looming across the Caribbean regarding this matter. This conference and discussions among your colleagues, I hope, will assist and guide us into transforming the Caribbean Tax Administrations in the age of digitalization.”
The conference launched on Monday, July 22 2019 and will close on Friday, July 26 2019. Delegates from 19 Caribbean countries including The Turks and Caicos Islands will be attending.