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Advantages and Disadvantages of Caribbean Single Market & Economy
. ... This will also enable the region to coordinate and negotiate as a single entity with the rest of the world. ... We expect that companies, which become Caribbean-wide in their reach, will establish headquarter operations here. They will do so to take advantage of our excellent external communications - direct flights to London, Toronto, New York - and regular, daily flights to every Caribbean country. ... We have no personal income tax, and over the years my Government has lowered the rate of company tax from 40% to 30%, and we intend to lower it sill further to 25% by the year 2005 when the Caribbean Single Market comes into being.
In this connection, Caribbean-wide companies that are looking for good communications by air, good telecommunications, a computer literate work force, and low taxes to maximise both efficiency and profits will find Antigua and Barbuda very desirable.
Antigua and Barbuda, in turn, will benefit from the creation of a large number of well-paid jobs, the Governments revenue will increase from the advent of a much wider tax base, and the economy will grow from greater activity.
The Caribbean Community (CARICOM) Single Market & Economy (CSME) seeks to convert its 15 Member States into a single, enlarged economic entity as near to a single market and single economy as possible without political integration. It is intended to provide an open market without cross-border restrictions and therefore seeks to facilitate the free movement of final products, goods, labor and services.
Approximate Word count = 1224
Approximate Pages = 4.9
(250 words per page double spaced)
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