PHILIPSBURG:--- In view of the coming Elections 2016 in St. Maarten, the Concordia Political Alliance party reached out to Benjamin & Parker Certified Risk Auditors after conducting a scan in the consultancy market in the Region, with the objective to develop a new concept to achieve the simplification of the local taxation method effectively. Benjamin & Parker is a consultancy company versed in High Impact Risk Management and their team consists of Certified professionals of Panama, Colombia, The Netherlands, Ecuador, The USA and the Dutch Caribbean in various financial areas . The firm accepted the challenge to dissect the current methodology, create an innovative fiscal concept that will emphasize efficiency to relief the Tax Office burden while zooming in on the actual business culture to mitigate tax evasion practices, with focus on consciousness and awareness of the SXM citizen to declare their income in a simplified manner.
Benjamin & Parker’s fields of expertise are Corporate Cost Savings, Efficiency enhancement and progressive Revenue evolution, which are the master keys to the existing problems in the local taxation cycle.
The management of BP indicated that times have changed and the tax system must be adapted starting by eliminating the “Dutch” Taxation culture to improve the social economic platform by making St. Maarten financially attractive for local and foreign investors. The representative of Benjamin & Parker stressed that adapting the Taxation system with business culture promotes employment and employment generates tax revenues.
St Maarten has been confronting the following taxation problems:
-Bulk taxations are forced on the business community and the citizens without considering the economic impact hereof.
-Increase of unemployment and returning graduates fall in the unemployment pool or faced with lower paying jobs.
-Tax bills cycle is circuitous.
The CPA party Leader Mr. Jeffrey Richardson, as a responsible politician, contacted Benjamin & Parker Head Office expressing his concerns, about the ongoing tax inconveniences after CPA assessed the root of the existing inconsistencies and found it necessary to step to the plate to relief the tax burden on both ends, the Tax Office and the Tax paying community by presenting an Efficient Tax simplification.
The Benjamin & Parker’s assessment aims to secure accountability of funds, outline the current waste within the Tax collection cycle and describe the remedial actions to trigger and promote Government income by simplifying the taxation method, in conformity with good governance and efficiency guidelines.
Mr. Jeffrey Richardson and BP Latin American Regional Director Mr. Terence Jandroep CRA are not strangers to each other, considering they were classmates 3 decades ago and graduated together in 1985 in Business Economics.
The combination of ideas, expertise and thorough scanning of the systematic taxation circuit, are the basis for the analysis that will be presented first to the press, and thereafter made public to the voting community of Sint Maarten.
Knowledge of what we do wrong is the key to believe in ourselves again.