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| Eastern Caribbean Considers Travel Levy To Prop Up Economy |
by Amanda Banks, Tax-News.com, London
Wednesday, January 21, 2009
Countries of the Organisation of Eastern Caribbean States (OCES) are looking at
a proposal in principle to implement a USD3 levy on airline tickets for persons
travelling to the OECS and the wider Caribbean from overseas markets.
At a meeting of the OECS Authority and the Eastern Caribbean
Central Bank (ECCB) Monetary Council, in Basseterre, the St. Kitts capital, on
Thursday and Friday, member states agreed in principle, subject to the determination
of the specific functions and cost of operations, to the possibility of setting
up an OECS Tourism Authority with the capacity for planning, coordinating, regulating,
marketing and research and development, which will initially function as a secretariat
to the Executive Committee of Ministers.
“The proposed Tourism Authority will initially play a coordinating role,
working in tandem with OECS Ministries of Tourism, and drawing on the resources
of the ECCB and the OECS Secretariat. Member states agreed to collaborate more
closely in the marketing of the region,” said the statement.
“They agreed in principle, subject to agreement by the wider Caribbean,
to the implementation of a USD3 levy on airline tickets for persons travelling
to the OECS and the wider Caribbean originating in overseas markets; the proceeds
of which will be used to establish a sustainable funding mechanism to ensure
adequate public funding of regional market campaigns,” said the communiqué.
The meeting recognised that tourism is the most important economic activity
in the OECS region, and that the sector's performance in 2008 reflected a significant
downturn, resulting in job losses and cutbacks in hotel development projects.
Projections for 2009 are that the downward trends will continue and may worsen,
particularly in light of the continued recession in the major tourism source
markets.
It was agreed that member states would provide a short term tax relief package
to the hotel industry tailored to the individual circumstances of individual
member states, on condition that the industry takes proactive innovative measures
to preserve employment levels, increase operating efficiency and reduce operating
costs.
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