THE HAGUE--The establishment of a Petite Committee of Experts from the Netherlands and St. Maarten has been proposed to deal with open issues such as utilities company GEBE and Windward Islands Airways Winair, in which St. Maarten and the Dutch public entities of Saba and St. Eustatius have shares.
Finance Minister Hiro Shigemoto, who met with Dutch State Secretary of Finance Frans Weekers on Wednesday to discuss these and other matters, said this is one of the positive outcomes so far of his working visit. Weekers also believes that these open issues must be looked at from a broader perspective.
Shigemoto said, "We have a number of issues dealing with our sister islands that includes taxes, GEBE and Winair to name a few. St. Maarten consumers have been subsidising the electricity supply for years. The two air routes to Saba and St. Eustatius also deliver losses.
"We understand that an air-link between the islands is part and parcel of the socio-economic development of the islands, and therefore the proposed establishment of this petite committee is a very positive and significant development in resolving these issues after the dissolution of the former Netherlands Antilles."
As for GEBE he said, "The people of St. Maarten are demanding relief and we are working diligently to bring this relief by resolving issues left undone."
Once the Petite Committee of Experts presents its findings, the two governments will meet to take the political decisions.
Dealing with the levying of Turnover Tax (ToT) for goods going to Saba and St. Eustatius from St. Maarten, Shigemoto explained to Weekers that St. Maarten is in the process of developing a new tax system that should be ready by 2013, which includes revamping and redesigning of the ToT.
"For St. Maarten to be able to offer any relief before that time would be extremely difficult as we have to contend with the rules and regulations of the Committee of Financial Supervision CFT, as well as the presentation of lean balanced national budgets for 2011 and 2012, which covers the operational expenses of Government," said the finance minister.
The government of St. Maarten cannot afford to miss any income that would result in a deficit which goes against the financial supervision rules and regulations, he said.
The finalisation of the buying out of the nine per cent in the Central Bank of Cura�ao and St. Maarten owned by Bonaire, St. Eustatius and Saba was another area discussed by the Minister and Secretary of State.
Milan Baros Economic policy European debt crisis Pakistan cricket betting scandal BlackBurn Rovers Spending review 2010
No comments:
Post a Comment