St. Maarten joins organization of regional tax administratorsPOSTED: 07/12/12 11:56 AM
GREAT BAY – St. Maarten will become a member of the Caribbean Organization of Tax Administrators (Cota) during a meeting that will take place in Trinidad from July 18 to July 23. Finance Minister Roland Tuitt announced yesterday that he will attend the meeting next week.
“The Netherlands Antilles was a Cota-member until 10-10-10. Now St. Maarten has applied for the membership,” Tuitt said.
The minister described Cota as “the fiscal arm of Caricom,” the Caribbean community that unites fifteen member states and five associate member states across the Caribbean region.
“Caricom’s executive council has decided that St. Maarten will be allowed to become a member of Cota. This will give us the opportunity to develop bilateral agreements and treaties to avoid for instance double taxation. Once we are a member we will be able to improve relationships in the region and we will also be able to combat tax evasion,” Tuitt said.