|Chris Sinckler, Minister of Finance and Economic Affairs speaking at press conference on the economy, last Sunday at Almond Bay in Hastings. (C.Pitt/BGIS)
Government is pressing ahead with the creation of a Central Revenue Authority (CRA), to merge the existing operations of the Customs and Excise Department, Inland Revenue and the Licensing Authority, to bring about greater efficiencies in government’s tax collection efforts.
The project will be officially launched this Friday, November 4, at the Lloyd Erskine Sandiford Centre, Two Mile Hill, St. Michael, starting at 9:30 a.m.?? Minister of Finance, Christopher Sinckler, will deliver the feature address.
The objective of the programme is to develop a transparent and sustainable public management system; while promoting efficiency and effectiveness in the current tax collection procedures, as well as the method of expenditure management.
It is also expected to enhance financial stability and sustainability, improve compliance, reduce tax leakages and increase the level of tax revenue collection.
The CRA, which commenced in 2004, will be completed by April 2013.?? It will be jointly financed by Government and the Caribbean Development Bank.