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									     PROPOSED CARTAC WORK PROGRAMME

                     October 2005 – March 2006




Key to Status:

“Ongoing”            Agreed and under implementation
“Confirmed”          Agreed with authorities and/or by steering committee
“Under discussion”   Proposed, under discussion with authorities
“Completed”          Activity completed
“Planned”            To be discussed with authorities
                                                                                                                                                                            2
          PROPOSED CARTAC WORK PROGRAMME: October 2005- March 2006

                                                 FINANCIAL SECTOR SUPERVISION COMPONENT


Summary Report:


Work by the financial sector supervisors will continue to be divided among banking, insurance, securities and credit union
supervisors, and it is anticipated that there will be an increase in the assistance provided to offshore financial centre supervisors.

After months of background work and outreach to various TA providers, CARTAC is planning to start two TA projects in securities
supervision. The results and products of these projects will be shared with the other regional securities supervisors and are intended to
promote harmonized supervisory regimes.

As CARTAC continues its work in upgrading the supervision of credit unions, it continues to receive additional requests for assistance
from other credit union supervisors. Because the credit union movement represents a large share of the financial services providers in
the region CARTAC advisors are sharing products and training throughout the region.

Following requests from jurisdictions for assistance in implementation of market risk capital charge and for Bank for International
Settlements (BIS) Basel II requirements, regional approaches will be developed to address specific country and regional issues.

CARTAC continues its close collaboration with other technical service providers active in the region, such as the Financial Sector
Reform and Strengthening Initiative, Office of the Supervisor of Financial Institutions (OSFI), the Inter American Development Bank
and various USA Supervisory agencies, to meet a wide range of supervisory needs arising from the financial sector.
.




Financial sector supervision key capacity objectives
FIN 1: Comprehensive legislation and regulations in place
FIN 2: Supervisory procedures in line with internationally accepted standards
FIN 3: Comprehensive and standardized reporting requirements established
FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
FIN 5: Establish deposit protection mechanism, preferably on regional basis
FIN 6: Adequate anti-money laundering measures in place
FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                    3
                                                     FINANCIAL SECTOR SUPERVISION COMPONENT



                Country and
                                                                                                                                                                         Key capacity
                other donor
  Dates                                                                          Activities                                                         Status                objectives
                involved (if
                                                                                                                                                                          addressed
                   any)

                                                                                      Regional

September           OECS and             Legislative initiatives
                     ECCB                Insurance Legislation
                       OSFI                                                                                                                                                     FIN 1
                                         Coordinate with OSFI for finalization of harmonized draft insurance                                       Ongoing
                                         legislation for the OECS after the ECCB has received comments on it
                                         from the industry.
 January              OECS               Legislative drafting workshop planned for OECS parliamentary
                                         draftspersons to promote adoption of single drafting style. This
                                                                                                                                             Under discussion                   FIN 1
                                         workshop should facilitate the finalization of the harmonized insurance
                                         Act.
                                                                                                                                                                          FIN 1, FIN 2,
February                IDB              Development of a comprehensive framework of supervision of                                                 Planned
                                                                                                                                                                          FIN 3, FIN 4,
                                         financial conglomerates operating in multiple jurisdictions in the
                                                                                                                                                                          FIN 6, FIN 7
                                         Caribbean region and bring it up to international standards. This would
                                         be accomplished through development of supervisory activities which
                                         would include developing memorandum of understanding
                                         (MOU) facilitating the sharing of information and coordination of
                                         supervisory activities cross sectors and among relevant jurisdictions,
                                         all tailored according to international best practices. This would also
                                         entail designing of contingency planning and crises management in the
                                         event of eventual financial crises within the region. Upgrading of
    Financial sector supervision key capacity objectives
    FIN 1: Comprehensive legislation and regulations in place
    FIN 2: Supervisory procedures in line with internationally accepted standards
    FIN 3: Comprehensive and standardized reporting requirements established
    FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
    FIN 5: Establish deposit protection mechanism, preferably on regional basis
    FIN 6: Adequate anti-money laundering measures in place
    FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                   4
                                                    FINANCIAL SECTOR SUPERVISION COMPONENT


               Country and
                                                                                                                                                                        Key capacity
               other donor
 Dates                                                                          Activities                                                         Status                objectives
               involved (if
                                                                                                                                                                         addressed
                  any)
                                        the legislative framework; designing off-site monitoring programs;
                                        developing on-site examination procedures; design of supervisory or
                                        enforcement actions would be a part of the project.

October                IMF             Organize workshop for banking supervisors on BASEL II                                                     Confirmed                     FIN 7
                                       “Implementing an Appropriate Capital Adequacy Regime – Preparing
                                       for a National Road Map.”
February/              IMF             Workshop on Quantitative Financial Risk Assessment Techniques.                                           Tentatively              FIN 1, FIN 2,
 March                                 The aim of the workshop would be to equip participants to prepare                                         planned                 FIN 3, FIN 4,
  2006                                 quantitative risk assessments for the preparation of financial stability                                                          FIN 6, FIN 7
                                       reports. The workshop would build on the available research and data
                                       collection, and training that has already been provided in the region. In
                                       addition, there would be a focus on techniques for cross-border risk
                                       assessment, and the assessment of conglomerates. Participants would
                                       also be exposed to the most recent techniques used in FSAPs and the
                                       FSRs of countries that have pioneered such reports, such as the Bank of
                                       England and the Bank of Finland. This workshop would complement
                                       the CARTAC workshop on Basel II, and other training by CARTAC,
                                       MFD, and others, which focus on the qualitative aspects of financial
                                       risk assessment.
November            ECSRC              Source a consultant to develop on site inspection procedures for the                                      Confirmed                FIN 2, FIN 7
                                       market participants under the supervision of the ECSRC.
   Financial sector supervision key capacity objectives
   FIN 1: Comprehensive legislation and regulations in place
   FIN 2: Supervisory procedures in line with internationally accepted standards
   FIN 3: Comprehensive and standardized reporting requirements established
   FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
   FIN 5: Establish deposit protection mechanism, preferably on regional basis
   FIN 6: Adequate anti-money laundering measures in place
   FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                   5
                                                    FINANCIAL SECTOR SUPERVISION COMPONENT


               Country and
                                                                                                                                                                        Key capacity
               other donor
 Dates                                                                          Activities                                                         Status                objectives
               involved (if
                                                                                                                                                                         addressed
                  any)

Ongoing              CCCU               Provide management support and training assistance to the                                                 Ongoing                FIN 2, FIN 3,
                                        FIRST/CARTAC/CPEC/CCCU project to modernize credit union                                                                            FIN 7
                                        operations and strengthen supervisory arrangements for credit unions.
                                                                               Country Specific

Ongoing             Anguilla            Provide assistance with development of regulation on capital adequacy,                                    Ongoing                FIN 1, FIN 2,
                                        risk management guidelines and guidelines on corporate governance,                                                                  FIN 7
                                        accounting and auditing, related party transactions, large exposures and
                                        asset classification along the lines of those currently under
                                        development with the ECCB.
 Ongoing           Antigua &            Provide assistance with development of regulation on capital adequacy,                                    Ongoing                FIN 1, FIN 2,
                    Barbuda             risk management guidelines and guidelines on corporate governance,                                                                  FIN 7
                                        accounting and auditing, related party transactions, large exposures and
                                        asset classification along the lines of those currently under
                                        development with the ECCB.
 October         The Bahamas           Securities Commission                                                                                     Confirmed                     FIN 1
                                       Source legislative draftsperson to provide assistance in the upgrade of
                                       the Securities Industry Act
 February        The Bahamas           Banking Supervision                                                                                  Under discussion                   FIN 7
                                        Provide training program to bank examiners on risk management,
   Financial sector supervision key capacity objectives
   FIN 1: Comprehensive legislation and regulations in place
   FIN 2: Supervisory procedures in line with internationally accepted standards
   FIN 3: Comprehensive and standardized reporting requirements established
   FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
   FIN 5: Establish deposit protection mechanism, preferably on regional basis
   FIN 6: Adequate anti-money laundering measures in place
   FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                     6
                                                   FINANCIAL SECTOR SUPERVISION COMPONENT


              Country and
                                                                                                                                                                       Key capacity
              other donor
 Dates                                                                         Activities                                                         Status                objectives
              involved (if
                                                                                                                                                                        addressed
                 any)
                                       credit analysis, and uniform rating systems for banks
November          Barbados                                                                                                                 Under discussion
                                      Securities Commission
                                                                                                                                                                               All
                                      Source consultant to provide TA to Securities Commission of Barbados.
                                      Credit Union Supervision                                                                             Under discussion
February
                  Barbados                                                                                                                                               FIN 2, FIN 7
                                      Provide training in advanced examination techniques to supervisory
                                      staff.
 March              Belize            Provide comments on the Central Bank of Belize organizational review                                      Confirmed                FIN 1, FIN 2
                    FIRST             in respect of financial supervision and regulation. The project is
                                      financed and administered by FIRST initiative.
Ongoing               BVI             Provide assistance with development of regulations on capital                                              Ongoing                FIN 1, FIN 2,
                                      adequacy, risk management guidelines and guidelines on corporate                                                                     FIN 7
                                      governance, accounting and auditing, related party transactions, large
                                      exposures and asset classification along the lines of those currently
                                      under development with the ECCB.
October            Cayman             TA products to implement market risk capital charge to be field-tested.                                    Ongoing                FIN 1, FIN 2,
                   Islands                                                                                                                                              FIN3, FIN 7
October           Dominica            Provide a consultant to conduct feasibility study of offshore financial                                   Confirmed                     FIN 2
                                      centre.

  Financial sector supervision key capacity objectives
  FIN 1: Comprehensive legislation and regulations in place
  FIN 2: Supervisory procedures in line with internationally accepted standards
  FIN 3: Comprehensive and standardized reporting requirements established
  FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
  FIN 5: Establish deposit protection mechanism, preferably on regional basis
  FIN 6: Adequate anti-money laundering measures in place
  FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                     7
                                                   FINANCIAL SECTOR SUPERVISION COMPONENT


              Country and
                                                                                                                                                                       Key capacity
              other donor
 Dates                                                                         Activities                                                         Status                objectives
              involved (if
                                                                                                                                                                        addressed
                 any)

                                      Provide assistance with development of regulation on capital adequacy,                                     Ongoing
                                      risk management guidelines and guidelines on corporate governance,
                                                                                                                                                                        FIN 1, FIN 2,
                                      accounting and auditing, related party transactions, large exposures and                                                             FIN 7
                                      asset classification along the lines of those currently under development
                                      with the ECCB.
Ongoing            Grenada             Provide assistance with development of regulations on capital                                             Ongoing                FIN 1, FIN 2,
                                       adequacy, risk management guidelines and guidelines on corporate                                                                    FIN 7
                                       governance, accounting and auditing, related party transactions, large
                                       exposures and asset classification along the lines of those currently
                                       under development with the ECCB.
November            Guyana            Banking Supervision                                                                                        Ongoing                      FIN 1
                     OSFI             Coordinate with supervisory authorities to conclude TA project to
                                      revise the Bank of Guyana Act and the Financial Institution Act.

November            Guyana            Credit Union Supervision                                                                                   Ongoing                      FIN 1
                                       Provide draft of legislative upgrades and amendments to the
                                       Cooperative Societies Act, with special emphasis on credit unions.
October             Guyana            Insurance Supervision                                                                                     Confirmed                      All
                     OSFI              OSFI will begin project for actuarial reviews and offsite surveillance
                                       programs.
  Financial sector supervision key capacity objectives
  FIN 1: Comprehensive legislation and regulations in place
  FIN 2: Supervisory procedures in line with internationally accepted standards
  FIN 3: Comprehensive and standardized reporting requirements established
  FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
  FIN 5: Establish deposit protection mechanism, preferably on regional basis
  FIN 6: Adequate anti-money laundering measures in place
  FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                      8
                                                    FINANCIAL SECTOR SUPERVISION COMPONENT


               Country and
                                                                                                                                                                        Key capacity
               other donor
  Dates                                                                         Activities                                                         Status                objectives
               involved (if
                                                                                                                                                                         addressed
                  any)

 February             Haïti            Banking Supervision                                                                                        Ongoing                FIN 2, FIN 3,
                                                                                                                                                                            FIN 7
                                       Upon receipt of feedback from the authorities on the offsite monitoring
                                       program, make final revisions and provide training program.
 January              Haïti            Credit Union Supervision                                                                              Under discussion                   All
                                        Coordinate with FIRST Initiative in the provision of comprehensive
                                        TA project, which addresses legislative framework, on site inspection
                                        procedures; off site monitoring program, policies and procedures.
                                        High level of uncertainty regarding the start of the project, due to
                                        FIRST’s procedures and the security situation in Haiti.
November            Jamaica            Securities Supervision                                                                              Under discussion              FIN 2, FIN 7,
                                       Source speakers for regional Securities Commissioners Association
                                       annual meeting.
September         Montserrat            Assist the FSC to conduct on-site examination in two offshore banks.                                      Ongoing                      FIN 7
Ongoing           Montserrat            Provide assistance with development of regulations on capital                                             Ongoing                FIN 1, FIN 2,
                                        adequacy, risk management guidelines and guidelines on corporate                                                                    FIN 7
                                        governance, accounting and auditing, related party transactions, large
                                        exposures and asset classification along the lines of those currently
                                        under development with the ECCB.


   Financial sector supervision key capacity objectives
   FIN 1: Comprehensive legislation and regulations in place
   FIN 2: Supervisory procedures in line with internationally accepted standards
   FIN 3: Comprehensive and standardized reporting requirements established
   FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
   FIN 5: Establish deposit protection mechanism, preferably on regional basis
   FIN 6: Adequate anti-money laundering measures in place
   FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                                      9
                                                    FINANCIAL SECTOR SUPERVISION COMPONENT


               Country and
                                                                                                                                                                        Key capacity
               other donor
  Dates                                                                         Activities                                                         Status                objectives
               involved (if
                                                                                                                                                                         addressed
                  any)

October           Montserrat            Provide assistance to revise the Financial Services Commission Act of                               Under discussion                   FIN 1
                                        2001 to address the comments from the IMF mission of 2002 and to
                                        bring the Act into harmony with the relevant acts of Anguilla.
 Ongoing           St. Kitts &          Provide assistance with development of regulations on capital                                             Ongoing                FIN 1, FIN 2,
                      Nevis             adequacy, risk management guidelines and guidelines on corporate                                                                    FIN 7
                                        governance, accounting and auditing, related party transactions, large
                                        exposures and asset classification along the lines of those currently
                                        under development with the ECCB.

 Ongoing            St. Lucia           Provide assistance with development of regulations on capital                                             Ongoing                FIN 1, FIN 2,
                                        adequacy, risk management guidelines and guidelines on corporate                                                                    FIN 7
                                        governance, accounting and auditing, related party transactions, large
                                        exposures and asset classification along the lines of those currently
                                        under development with the ECCB.


 October          Trinidad &           Assess technical assistance needs to the CBTT based on the IMF/WB                                    Under discussion                    All
                   Tobago              FSAP report and identify areas in which CARTAC could be the
                                       provider.
 January          Trinidad &           Source a legislative draftsperson to finalize the revisions to the                                          Planned                     FIN 1
                   Tobago              Securities Act.

   Financial sector supervision key capacity objectives
   FIN 1: Comprehensive legislation and regulations in place
   FIN 2: Supervisory procedures in line with internationally accepted standards
   FIN 3: Comprehensive and standardized reporting requirements established
   FIN 4: Appropriate laws and procedures in place for dealing with insolvent institutions
   FIN 5: Establish deposit protection mechanism, preferably on regional basis
   FIN 6: Adequate anti-money laundering measures in place
   FIN 7: Improved technical knowledge, skills and capabilities of officials responsible for financial sector supervision and regulation (human resource capacity building).
                                                                                                                                                                             10
          PROPOSED CARTAC WORK PROGRAMME: October 2005- March 2006

                              MACROECONOMIC PROGRAMMING & POLICY ANALYSIS COMPONENT


Summary Report:


During the period from October 2005 – March 2006, three workshops are planned. One workshop will focus on financial
programming and will be held in conjunction with the IMF Institute. During the workshop, participants will be introduced to the
analysis and forecasting of key macroeconomic aggregates, and the assessment of debt sustainability. The other two workshops will
target economists in Suriname and in the Macroeconomic Policy Units of the OECS countries and the ECCB, and will utilise a flow-
of-funds framework to illustrate how a sector’s savings-investment balance is defined, how this balance reflects its financial
transactions, and the relationship of these transactions with those of other sectors. Follow-up missions will visit Antigua & Barbuda,
Dominica and Suriname to continue capacity building that has already started. Discussions will be held with Montserrat regarding the
commencement of the SATAP in that country. Discussions with the Central Bank of the Bahamas are planned to discuss a schedule
for capacity building in the area of financial programming.




MAC key capacity objectives
MAC1: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank form a Financial Programming team; and trained
to undertake internally consistent macroeconomic projections for the balance of payments and the fiscal, monetary and national accounts for baseline and alternative scenarios.
MAC2: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank trained to assess the impact of policy changes.
MAC3: Advice provided to the government on the impact of various policy measures in collaboration.
MAC4: Advice provided in the development of systems for the improvement of macroeconomic management.
MAC5: Regional seminars, workshops and courses in macroeconomic projections and policy analysis staged in collaboration with various partners.
                                                                                                                                                                             11
                              MACROECONOMIC PROGRAMMING & POLICY ANALYSIS COMPONENT


                                 Country
                                and other                                                                                                               Key capacity
         Dates                    donor                                      Activities                                         Status                   objectives
                               involved (if                                                                                                              addressed
                                   any)
                                                                           Regional
   November 2005                   Regional          Course entitled Financial Programming and                                Confirmed                    MAC 1,2,5
                                                     Policies. The 2-week course will examine the
                                                     role of government and the impact of its
                                                     activities on key macroeconomic indicators. It
                                                     will also look at forecasting key
                                                     macroeconomic variables based on assumptions
                                                     about the policy framework, and also examine
                                                     techniques for evaluating fiscal performance.
                                                     The targeted participants are economists in
                                                     regional finance ministries and central banks in
                                                     CARTAC’s Member Countries.
     January 2006                   OECS             Workshop on Macroeconomic Linkages and                               Under discussion                   MAC 5
                                                     Analysis. The workshop is likely to be staged
                                                     over five days, and two representatives from
                                                     each OECS country will be invited. The aim is
                                                     to improve the understanding among
                                                     economists of the linkages among the sectors of
                                                     the economy.



MAC key capacity objectives
MAC1: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank form a Financial Programming team; and trained
to undertake internally consistent macroeconomic projections for the balance of payments and the fiscal, monetary and national accounts for baseline and alternative scenarios.
MAC2: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank trained to assess the impact of policy changes.
MAC3: Advice provided to the government on the impact of various policy measures in collaboration.
MAC4: Advice provided in the development of systems for the improvement of macroeconomic management.
MAC5: Regional seminars, workshops and courses in macroeconomic projections and policy analysis staged in collaboration with various partners.
                                                                                                                                                                             12
                              MACROECONOMIC PROGRAMMING & POLICY ANALYSIS COMPONENT


                                 Country
                                and other                                                                                                               Key capacity
         Dates                    donor                                      Activities                                         Status                   objectives
                               involved (if                                                                                                              addressed
                                   any)
                                                                     Country Specific
     October 2005               Antigua and          Assist in preparing for the upcoming budget.                         Under discussion                 MAC 1,3,4
                                 Barbuda
     October 2005                Dominica            Continued assistance with the implementation                             Confirmed                      MAC 3
                                                     of the program under the IMF’s Poverty
                                                     Reduction and Growth Facility.
     October 2005                Montserrat          Commence a financial programming exercise as                         Under discussion                  MAC 1,2
                                                     part of SATAP. This initial phase will consist
                                                     of evaluating data quality, assigning
                                                     responsibilities to local team members and
                                                     holding discussions with public- and private-
                                                     sector officials to determine the macroeconomic
                                                     policy framework.
November/December              The Bahamas           Assist in the development of a framework for                         Under discussion                 MAC 1,2,3
      2005                                           undertaking medium-term macroeconomic
                                                     projections.




MAC key capacity objectives
MAC1: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank form a Financial Programming team; and trained
to undertake internally consistent macroeconomic projections for the balance of payments and the fiscal, monetary and national accounts for baseline and alternative scenarios.
MAC2: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank trained to assess the impact of policy changes.
MAC3: Advice provided to the government on the impact of various policy measures in collaboration.
MAC4: Advice provided in the development of systems for the improvement of macroeconomic management.
MAC5: Regional seminars, workshops and courses in macroeconomic projections and policy analysis staged in collaboration with various partners.
                                                                                                                                                                             13
                              MACROECONOMIC PROGRAMMING & POLICY ANALYSIS COMPONENT


                                 Country
                                and other                                                                                                               Key capacity
         Dates                    donor                                      Activities                                         Status                   objectives
                               involved (if                                                                                                              addressed
                                   any)
 October-November                Suriname            Five-day workshop on Macroeconomic                                       Confirmed                      MAC 5
       2005                                          Linkages and Analysis. Participation will be
                                                     from the Ministry of Finance, the Ministry of
                                                     Planning and Development Cooperation and the
                                                     Central Bank of Suriname. The objective is to
                                                     improve the understanding among the
                                                     participants (economists) of the linkages among
                                                     the sectors of the economy in order to improve
                                                     the quality of reporting and policy making.




MAC key capacity objectives
MAC1: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank form a Financial Programming team; and trained
to undertake internally consistent macroeconomic projections for the balance of payments and the fiscal, monetary and national accounts for baseline and alternative scenarios.
MAC2: Members of staff of the Macroeconomic Units of the Ministries of Finance and the Research Departments of the Central Bank trained to assess the impact of policy changes.
MAC3: Advice provided to the government on the impact of various policy measures in collaboration.
MAC4: Advice provided in the development of systems for the improvement of macroeconomic management.
MAC5: Regional seminars, workshops and courses in macroeconomic projections and policy analysis staged in collaboration with various partners.
                                                                                                                                                                 14
               PROPOSED CARTAC WORK PROGRAMME: October 2005- March 2006

                                                        PUBLIC FINANCE MANAGEMENT COMPONENT

Summary Report:

Work will continue to focus on requests for assistance to individual countries and across-region support through, for example, the Fiscal Machinery Exercise
(FME), region wide workshops including for Finance Legislation, Debt Management and possibly Public Sector Investment Program (PSIP) Management. It
is also expected during the period that the reference model for cash management will be completed. Support will continue to be provided for the Caribbean
Public Finance Association (CaPFA) including assistance to hold their second annual general meeting (to be associated with a workshop) and the reformatting
of their website.
Region wide assistance will continue to be directed at training and education and at facilitating inter country networks to promote the active exchange of
experience between (and within) countries and to capitalize on synergies between countries in the region. Such networking is producing positive, although
sometimes not easily documented, benefits to countries in the region. CARTAC contributions to regional PFM Reform, both at the regional and individual
country levels, are likely to involve coordination with other assistance providers and with donors to meet specific country and regional needs.
In summary, the expected activities during the period include:
a. Regional assistance:
       ECCU FME – completion of diagnostic and reform priority identification workshops. Anguilla, Antigua & Barbuda, Dominica, Grenada,
          Montserrat, St Lucia, St Kitts & Nevis and St Vincent & the Grenadines.
       Workshop program – Debt management, Financial Legislation and possibly PSIP.
       Regional networking – ongoing support for the establishment of CaPFA and support for Smartstream Accountants General Group to facilitate, among
          other things, better regional cooperation, transfer of knowledge and experience, etc.
       Regional best practice – Caribbean cash management reference model.
b. Individual country assistance:
       Budget development – Antigua & Barbuda (PSIP), Dominica (multi-year budgeting.), Dominican Republic (PSIP) and Nevis Island Administration
          (PSIP).
       Budget implementation including cash management and commitment control – Antigua & Barbuda (cash management), Dominica (cash
          management), Haïti (establishment of Integrated Financial Management Information System (IFMIS) acquisition plan) and Belize (IFMIS
          improvement).
       Regional best practice support (Barbados introduction of full accrual accounting and Trinidad & Tobago implementation of output management).

September 2005.

     PFM key capacity objectives
     PFM1: Improving state fiscal management legislative framework and adherence to it
     PFM2: Increasing efficiency of the budget preparation process. Upgrade its capacity to produce realistic, sustainable fiscal policy
     PFM3: Improving coverage of expenditures, revenues and financing in the annual state budget (i.e. a comprehensive annual budget)
     PFM4: Increasing quality of fiscal data and information used for budget preparation, execution management and reporting
     PFM5: Increasing transparency of PEM systems and improved managerial accountability for the delivery of fiscal policy objectives
     PFM6: Increasing the technical knowledge, skills and capabilities of officials at all levels working in the PEM system (human resource capacity building)
                                                                                                                                                                            15
                                                   PUBLIC FINANCE MANAGEMENT COMPONENT



                  Country and
                                                                                                                                                            Key capacity
  Dates           other donor                                         Activities                                               Status                        objectives
                  involved (if
                                                                                                                                                             addressed
                     any)
                                                                                  Regional

Oct – Mar              Various            Fiscal Machinery Exercise (FME)                                                     Ongoing                         PFM 1 -6
                                              Progression of FME. Revised diagnostic exercises
                                               and identification of 3-5 highest priority reforms
                                               are expected to be complete by mid Nov.
                                               Monitoring of country reporting and follow up as
                                               required.
Oct – Mar           Caribbean                 Preparation for CaPFA Workshop/AGM in Nov.                                     Ongoing                        PFM 1 – 6
                  Public Finance
                                              Assistance with newsletter.
                   Association
                    (CaPFA)                   Other ongoing support including upgrade of
                                               website and sponsorship of Board meetings.
Oct – Mar              Various            Caribbean Cash Management Reference Model                                                                          PFM 2 – 4
                                              Final publication.
Oct – Mar               OECS              Debt Management Seminar                                                                                           PFM 2 – 4 & 6
                                              Support workshop.



PFM key capacity objectives
PFM1: Improving state fiscal management legislative framework and adherence to it
PFM2: Increasing efficiency of the budget preparation process. Upgrade its capacity to produce realistic, sustainable fiscal policy
PFM3: Improving coverage of expenditures, revenues and financing in the annual state budget (i.e. a comprehensive annual budget)
PFM4: Increasing quality of fiscal data and information used for budget preparation, execution management and reporting
PFM5: Increasing transparency of PEM systems and improved managerial accountability for the delivery of fiscal policy objectives
PFM6: Increasing the technical knowledge, skills and capabilities of officials at all levels working in the PEM system (human resource capacity building)
                                                                                                                                                                            16
                                                   PUBLIC FINANCE MANAGEMENT COMPONENT




                  Country and
                                                                                                                                                            Key capacity
  Dates           other donor                                         Activities                                               Status                        objectives
                  involved (if
                                                                                                                                                             addressed
                     any)
Oct – Nov              Various            Finance Legislation Workshop                                                                                       PFM 1 & 6
                                               With CaPFA, regional workshop on finance
                                               legislation.
                       Various            Public Sector Investment Program Workshop                                                                         PFM 2 -4 & 6
                                              With CaPFA, workshop is to address PSIP best
                                               practice with possible development of a reference
                                               model as an output.
Oct – Mar              Various                Visit program for countries not previously visited                                                             PFM 1 -6
                                               (on an opportunity basis).
                                                                           Country Specific

Oct – Mar             Anguilla                Assist with FME diagnostic and action plan.                                                                   PFM 1 – 6
Oct – Mar            Antigua &                                                                                                                              PFM 2 – 4 & 6
                      Barbuda                 PSIP reform implementation.
                                                                                                                                                             PFM 2 – 6
                                              Cash management review and reform
                                               implementation.
                                                                                                                                                              PFM 1 -6
                                              Assist with FME Diagnostic and Action Plan.


PFM key capacity objectives
PFM1: Improving state fiscal management legislative framework and adherence to it
PFM2: Increasing efficiency of the budget preparation process. Upgrade its capacity to produce realistic, sustainable fiscal policy
PFM3: Improving coverage of expenditures, revenues and financing in the annual state budget (i.e. a comprehensive annual budget)
PFM4: Increasing quality of fiscal data and information used for budget preparation, execution management and reporting
PFM5: Increasing transparency of PEM systems and improved managerial accountability for the delivery of fiscal policy objectives
PFM6: Increasing the technical knowledge, skills and capabilities of officials at all levels working in the PEM system (human resource capacity building)
                                                                                                                                                                           17
                                                   PUBLIC FINANCE MANAGEMENT COMPONENT




                  Country and
                                                                                                                                                            Key capacity
  Dates           other donor                                         Activities                                               Status                        objectives
                  involved (if
                                                                                                                                                             addressed
                     any)
Oct – Mar             Barbados                Assistance to project to introduce full accrual                                Ongoing                       PFM 4, 5 & 6
                                               accounting as required.
Oct – Mar               Belize                Further assistance with IFMIS.                                                 Ongoing                        PFM 2 & 6
Oct – Mar             Dominica                Liaison/participation with DFID/OPM in                                         Ongoing                        PFM 4 & 6
                                               assistance with implementation of cash
                                               management reforms.
                                              Long term TA to Budget Department including
                                               cash management and introduction of basic multi                                Ongoing                        PFM 2 – 6
                                               year budgeting.                                                                Ongoing
                                              Assist with FME Diagnostic and Action Plan.                                                                    PFM 1 -6
Oct – Mar            Dominican                                                                                             Under review                     PFM 4, 5 & 6
                                              Assistance with reform of the PSIP.
                      Republic
Oct – Mar             Grenada                 Assist with FME Diagnostic and Action Plan.                              Under discussion                      PFM 1 -6
                                              PSIP reform.                                                                                                   PFM 2 -6
Oct – Mar                Haïti                Assistance with implementation of computer                                     Ongoing                        PFM 1 – 6
                                               based IFMIS.


PFM key capacity objectives
PFM1: Improving state fiscal management legislative framework and adherence to it
PFM2: Increasing efficiency of the budget preparation process. Upgrade its capacity to produce realistic, sustainable fiscal policy
PFM3: Improving coverage of expenditures, revenues and financing in the annual state budget (i.e. a comprehensive annual budget)
PFM4: Increasing quality of fiscal data and information used for budget preparation, execution management and reporting
PFM5: Increasing transparency of PEM systems and improved managerial accountability for the delivery of fiscal policy objectives
PFM6: Increasing the technical knowledge, skills and capabilities of officials at all levels working in the PEM system (human resource capacity building)
                                                                                                                                                                           18
                                                   PUBLIC FINANCE MANAGEMENT COMPONENT




                  Country and
                                                                                                                                                            Key capacity
  Dates           other donor                                         Activities                                               Status                        objectives
                  involved (if
                                                                                                                                                             addressed
                     any)
Oct – Mar            Montserrat               Assist with FME diagnostic and action plan.                                                                   PFM 1 – 6
Oct – Mar          Nevis Island                                                                                               Ongoing                        PFM 2 – 6
                                              Assistance to implement PSIP reforms.
                  Administration
Oct – Mar              St Lucia               Assist with FME Diagnostic and Action Plan.                                                                    PFM 1 -6
Oct – Mar            St Kitts &               Support for establishment of Internal Audit.                                Under review                      PFM 5 & 6
                       Nevis
                                              Assist with FME Diagnostic and Action Plan.                                    Ongoing                         PFM 1 -6
Oct – Mar          St Vincent &                                                                                                                              PFM 1 – 6
                                              Assist with FME Diagnostic and Action Plan.
                  the Grenadines
Oct – Mar            Trinidad &               Ongoing support for introduction of Output                                     Ongoing                       PFM 2, 5 & 6
                      Tobago                   management.




PFM key capacity objectives
PFM1: Improving state fiscal management legislative framework and adherence to it
PFM2: Increasing efficiency of the budget preparation process. Upgrade its capacity to produce realistic, sustainable fiscal policy
PFM3: Improving coverage of expenditures, revenues and financing in the annual state budget (i.e. a comprehensive annual budget)
PFM4: Increasing quality of fiscal data and information used for budget preparation, execution management and reporting
PFM5: Increasing transparency of PEM systems and improved managerial accountability for the delivery of fiscal policy objectives
PFM6: Increasing the technical knowledge, skills and capabilities of officials at all levels working in the PEM system (human resource capacity building)
                                                                                                                                                 19
           PROPOSED CARTAC WORK PROGRAMME: October 2005- March 2006

                                                                     STATISTICS COMPONENT

Summary Report:

The activities of the Statistics Adviser during the 6-month period ending September 2005 will continue to focus on improving the compilation of
national accounts, price statistics, balance of payments, government finance statistics and monetary and financial statistics through training and
hands-on technical assistance. The broad areas of the work plan include:

    Continued improvement of national accounts through the development of supply and use tables followed by rebasing of the national accounts
     (Anguilla, The Bahamas, Barbados, Dominica, Guyana, St. Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, and Trinidad & Tobago);
    Continued improvement of balance of payments in the member countries of the Eastern Caribbean Central Bank (ECCB) through the
     introduction of improved methodologies and data collection strategies. Currently, there are substantial deficiencies in the collection of
     financial account data and services statistics; and
    Development of export-import price indices to improve the constant price estimates of trade data (Dominica and St. Vincent & the
     Grenadines).
Two initiatives expand the scope of the work so far begun. The first relates to training staff at the Bank of Jamaica in the methodology for
compiling the international investment position statement, and the second relates to developing financial soundness indicators (FSIs) in Trinidad &
Tobago. FSIs are a relatively new set of statistics to improve the monitoring of risk factors in financial systems. The guidelines for developing
FSIs are still in the formulative stage. It is also planned that CARTAC will continue training in various macroeconomic statistics. One such
proposal is to conduct a course in government finance statistics. Timing for the proposed course will depend on the programme adopted by the
successor to the incumbent Statistics Adviser. Another new element is the plan to revise statistical legislation in the member countries of the
ECCB. Implementation of this program will depend on receiving additional, specific funding for the project.
The programmes outlined above support the overall Caribbean Community (CARICOM) plan to improve statistical compilation through the
adoption of a regional programme of improvement that enhances the effort to create the CARICOM Single Market and Economy (CSME).

As a cautionary note, it should be noted that budget constraints will likely delay the initiation and implementation of some of these plans.




Statistics key capacity objectives
STA1: Well-defined institutional framework
STA2: System of National Accounts 1993 (SNA 93) in place
STA3: International standards applied for external sector statistics
STA4: International standards applied for monetary and financial statistics
STA5: Timely, accurate, and comprehensive government finance statistics
STA6: Improved technical knowledge, skills and capabilities of statistics officials at all levels (human resource capacity building).
                                                                                                                                                              20
           PROPOSED CARTAC WORK PROGRAMME: October 2005- March 2006

                                                                     STATISTICS COMPONENT




                                                                                                                                               Key capacity
     Dates              Country/Donor                                         Activities                                           Status       objectives
                                                                                                                                                addressed
                                                                                  Regional

 October 2005           Eastern Caribbean            The balance of payments statistics mission is                               Confirmed     STA1, STA3 and
                         Currency Union              aimed at continuing the improvement of statistics                                             STA6
                             (ECCU)                  in the ECCU member countries. The mission will
                                                     focus on two issues related to the identification
                                                     of: (a) services and (b) financial sector
                                                     transactions.

December 2005                   ECCU                 Review of statistics acts in ECCU member                               Under discussion   STA1 and STA6
                                                     countries. The aim of this consultant mission will
                                                     be the development of a framework for revising
                                                     existing legislation in a coordinated consistent
                                                     manner through the ECCU region.
  March 2006                   Regional              Conduct a workshop on government finance                               Under discussion   STA1, STA5 and
                                                     statistics. Timing of the course will depend on                                               STA6
                                                     the programme adopted by the successor to the
                                                     incumbent Statistics Adviser.



Statistics key capacity objectives
STA1: Well-defined institutional framework
STA2: System of National Accounts 1993 (SNA 93) in place
STA3: International standards applied for external sector statistics
STA4: International standards applied for monetary and financial statistics
STA5: Timely, accurate, and comprehensive government finance statistics
STA6: Improved technical knowledge, skills and capabilities of statistics officials at all levels (human resource capacity building).
                                                                                                                                                              21
                                                                     STATISTICS COMPONENT


                                                                                                                                               Key capacity
     Dates              Country/Donor                                         Activities                                           Status       objectives
                                                                                                                                                addressed
  March 2006                   Regional              Expand the supply and use table program to                             Under discussion   STA1, STA2 and
                                                     include a social accounting matrix or other type                                              STA6.
                                                     of socio-economic satellite account. The
                                                     program would enable analysts to measure the
                                                     social impact of the flow of funds on social
                                                     groups (by age, sex, education).

                                                                            Country Specific

   November                    Anguilla              Continue the project to improve national                               Under discussion   STA1, STA2 and
     2005                                            accounts through the development of a supply                                                  STA6
                                                     and use table. This consultant mission will be a
                                                     follow-up to one conducted in May 2004.
   November                 The Bahamas              Continue the project to improve national                               Under discussion   STA1, STA2 and
     2005                                            accounts through the development of a supply                                                  STA6
                                                     and use table. This will be a follow-up mission to
                                                     one conducted in August 2005. A primary focus
                                                     will be the improvement of GDP estimates and
                                                     reducing the large statistical discrepancy.
  March 2006                  Barbados               Initiate the program to compile quarterly GDP                          Under discussion   STA1, STA2 and
                                                     data. This project assumes that, following                                                    STA6
                                                     completion of the supply and use table, the
                                                     rebasing of GDP has also been completed.

Statistics key capacity objectives
STA1: Well-defined institutional framework
STA2: System of National Accounts 1993 (SNA 93) in place
STA3: International standards applied for external sector statistics
STA4: International standards applied for monetary and financial statistics
STA5: Timely, accurate, and comprehensive government finance statistics
STA6: Improved technical knowledge, skills and capabilities of statistics officials at all levels (human resource capacity building).
                                                                                                                                                               22
                                                                     STATISTICS COMPONENT


                                                                                                                                                Key capacity
     Dates              Country/Donor                                         Activities                                           Status        objectives
                                                                                                                                                 addressed
February 2006             Cayman Islands             Provide technical assistance in balance of                             Under discussion    STA1, STA3 and
                                                     payments by examining existing sources and                                                     STA6
                                                     establishing a data collection strategy. This
                                                     mission follows one conducted in July 2005 to
                                                     assess statistical needs.

   November                   Dominica               Continue the project to improve national                               Under discussion    STA1, STA2 and
     2005                                            accounts through the development of a supply                                                   STA6
                                                     and use table. This consultant mission will be a
                                                     follow-up to one conducted in November 2004.
   November                   Dominica               The mission will continue to work with the                             Under discussion    STA1, STA2 and
     2005                                            authorities in developing an export import price                                               STA6
                                                     index. This follow-up mission will concentrate
                                                     on reviewing data collected from the price survey
                                                     and incorporating these data into the
                                                     development of appropriate indices.

 October 2005                  Jamaica               Provide training in the compilation of balance of                           Confirmed     STA1, STA3, STA6
                                                     payments and the international investment
                                                     position statement to staff of the Bank of Jamaica
                                                     and major reporters.
 January 2006            St. Kitts & Nevis           Continue the project to improve national                               Under discussion    STA1, STA2 and
                                                     accounts through the development of a supply                                                   STA6
                                                     and use table. This consultant mission will be a
Statistics key capacity objectives
STA1: Well-defined institutional framework
STA2: System of National Accounts 1993 (SNA 93) in place
STA3: International standards applied for external sector statistics
STA4: International standards applied for monetary and financial statistics
STA5: Timely, accurate, and comprehensive government finance statistics
STA6: Improved technical knowledge, skills and capabilities of statistics officials at all levels (human resource capacity building).
                                                                                                                                                              23
                                                                     STATISTICS COMPONENT


                                                                                                                                               Key capacity
     Dates              Country/Donor                                         Activities                                           Status       objectives
                                                                                                                                                addressed
                                                     follow-up to earlier ones and the second since the
                                                     consultant began to work from home.

  March 2006                   St. Lucia             Improve national accounts compilation through                          Under discussion   STA1, STA2 and
                                                     the development of a supply and use table. This                                               STA6
                                                     consultant mission will be a follow-up to one
                                                     conducted in August 2003.
   November              St. Vincent & the           The mission will continue to work with the                             Under discussion   STA1, STA2 and
     2005                    Grenadines              authorities in developing an export import price                                              STA6
                                                     index. This follow-up mission will concentrate
                                                     on reviewing data collected from the price survey
                                                     and incorporating these data into the
                                                     development of appropriate indices.

 October 2005                Trinidad &              Initiate a program to develop financial soundness                           Confirmed     STA1, STA4, and
                              Tobago                 indicators. This new field of statistics aims to                                              STA6
                                                     measure the vulnerabilities of financial systems
                                                     by integrating bank supervisory elements with
                                                     macroeconomic measurements for the household
                                                     sector, nonfinancial corporations, and real estate
                                                     markets.




Statistics key capacity objectives
STA1: Well-defined institutional framework
STA2: System of National Accounts 1993 (SNA 93) in place
STA3: International standards applied for external sector statistics
STA4: International standards applied for monetary and financial statistics
STA5: Timely, accurate, and comprehensive government finance statistics
STA6: Improved technical knowledge, skills and capabilities of statistics officials at all levels (human resource capacity building).
                                                                                                                                                       24
          PROPOSED CARTAC WORK PROGRAMME: October 2005- March 2006

                                                                           TAX COMPONENT




Summary Report:

For the period October 2005-March 2006, the work will focus on VAT introduction in the three first countries to introduce it with
CARTAC help (Dominica, Antigua & Barbuda and Belize), the establishment of the ROSCC, assistance to Antigua & Barbuda in
Customs reform and consolidation of the Personal Income Tax (PIT). We will also assist Antigua & Barbuda with the Customs
Renewal Programme, recently launched by Minister Errol Cort. We will keep assisting OECS and CARICOM with the tax
administration law and the migration to the Harmonised System (HS) for Customs. With IMF Legal Department support, we will
assist the OECS with the establishment of the OECS Tax Court. We also plan to assist the countries with the establishment of customs
post-release audit units, following up on the experience in Barbados. For the countries now introducing a VAT (except Guyana), after
it is in operation, we will focus on the establishment of revenue authorities in the CARTAC countries. We will continue to assist
Guyana with tax reforms, reform of the Guyana Revenue Authority and VAT introduction.




Tax administration key capacity objectives
TAX1: Well drafted legislation
TAX2: Adequate revenue sources
TAX3: Appropriate tariff structure
TAX4: Simple and efficiently managed tax administration procedures
TAX5: Effective tax compliance
TAX6: Modern customs procedures for trade facilitation
TAX7: Improved technical knowledge, skills and capabilities of officials at all levels working in the tax system (human resource capacity building).
                                                                                                                                                                    25
                                                                           TAX COMPONENT




                  Country and
                                                                                                                                                         Key capacity
  Dates           other donor                                             Activities                                                Status                objectives
                  involved (if
                                                                                                                                                          addressed
                     any)
                                                                                    Regional
  October               ECCB               Assistance with establishment of regional tax appeal                                     Planned             TAX 1, TAX 4,
   2005                                    court (by LEG).                                                                                                 TAX 5
  October            CARICOM               Start Customs migration to HS 2007.                                                      Planned             TAX 3, TAX 4,
   2005                                                                                                                                                    TAX 5
                                                                              Country Specific
   June-              Antigua &            Conclusion of long-term assistance with PIT (phase II)                                 In progress          TAX 1, TAX 2, Tax
November               Barbuda             and VAT introduction.                                                                                           4, TAX5
   2005
 October              Antigua &            Migration to ASYCUDA World with UNCTAD.                                                  Planned             TAX 4, TAX 5,
   2005                Barbuda                                                                                                                             TAX 6
November              Antigua &            Assistance with Customs reforms (1/5)                                                    Planned             TAX4, TAX 5
   2005                Barbuda             Oct 31-Nov 25.
 January-             Antigua &            Assistance with Customs reforms (2/5)                                                    Planned              TAX4, TAX 5
 February              Barbuda             Jan 9-Feb 3.
   2006
  March-              Antigua &            Assistance with Customs reforms (3/5)                                                    Planned              TAX4, TAX 5
April 2006             Barbuda             Mar 13-Apr 17.

Tax administration key capacity objectives
TAX1: Well drafted legislation
TAX2: Adequate revenue sources
TAX3: Appropriate tariff structure
TAX4: Simple and efficiently managed tax administration procedures
TAX5: Effective tax compliance
TAX6: Modern customs procedures for trade facilitation
TAX7: Improved technical knowledge, skills and capabilities of officials at all levels working in the tax system (human resource capacity building).
                                                                                                                                                                   26
                                                                           TAX COMPONENT


                  Country and
                                                                                                                                                       Key capacity
  Dates           other donor                                             Activities                                                Status              objectives
                  involved (if
                                                                                                                                                        addressed
                     any)
September           Barbados               Assistance with the establishment of the Post Release                                    Planned            TAX 4, TAX 5,
 -October                                  Audit Unit (2/2).                                                                                           TAX 6, TAX 7
   2005
  October             Barbados             Review of the Customs Act to adapt it to CARICOM’s                                       Planned             Tax 1, Tax 6
   2005                                    harmonized Customs Act.
  October                Belize            Assistance with GST introduction (1/4)                                                   Planned               TAX 1
   2005                                    (Oct 3-28).
  October                Belize            Professional attachment to Barbados VAT.                                                 Planned            TAX 2, TAX 7
   2005
November-                Belize            Assistance with GST introduction (2/4)                                                   Planned               TAX 1
December                                   Nov 28-Dec 16.
   2005
December                 Belize            Professional attachment to Jamaica GST.                                                  Planned            TAX 2, TAX 7
   2005
February-                Belize            Assistance with GST introduction (3/4)                                                   Planned               TAX 1
  March                                    Feb 6-Mar 17).
   2006
  October             Dominica             Migration to ASYCUDA World with UNCTAD.                                                  Planned               TAX 4
   2005
  October             Dominica             Assistance with VAT introduction (4/7)                                                   Planned            TAX 1, TAX 2,
   2005                                    Oct 3-28.                                                                                                   TAX 5, TAX 7

November-             Dominica             Assistance with VAT introduction (5/7)                                                   Planned            TAX 1, TAX 2,
Tax administration key capacity objectives
TAX1: Well drafted legislation
TAX2: Adequate revenue sources
TAX3: Appropriate tariff structure
TAX4: Simple and efficiently managed tax administration procedures
TAX5: Effective tax compliance
TAX6: Modern customs procedures for trade facilitation
TAX7: Improved technical knowledge, skills and capabilities of officials at all levels working in the tax system (human resource capacity building).
                                                                                                                                                                  27
                                                                           TAX COMPONENT


                  Country and
                                                                                                                                                       Key capacity
  Dates           other donor                                             Activities                                                Status              objectives
                  involved (if
                                                                                                                                                        addressed
                     any)
December                                   Nov 28-Dec 16.                                                                                              TAX 5, TAX 7
  2005
February-             Dominica             Assistance with VAT introduction (6/7)                                                   Planned            TAX 1, TAX 2,
 March                                     Feb 6-Mar 10.                                                                                               TAX 5, TAX 7
  2006
 October             Dominican             Review of tax audit and tax studies organizations.                                       Planned            TAX 4, TAX 5
  2005                Republic
 October             Dominican             Assistance with excise tax administration.                                               Planned            TAX 4, TAX 5
  2005                Republic
  July-               St. Lucia            Preparation of the VAT Sensitivity Study.                                              In progress             TAX 2
 October
  2005
 October            St. Vincent &          Migration to ASYCUDA World with UNCTAD.                                                  Planned               TAX 4
  2005             the Grenadines
 October            St. Vincent &          Professional attachment to Jamaica VAT.                                                  Planned            TAX 2, TAX 7
  2005             the Grenadines




Tax administration key capacity objectives
TAX1: Well drafted legislation
TAX2: Adequate revenue sources
TAX3: Appropriate tariff structure
TAX4: Simple and efficiently managed tax administration procedures
TAX5: Effective tax compliance
TAX6: Modern customs procedures for trade facilitation
TAX7: Improved technical knowledge, skills and capabilities of officials at all levels working in the tax system (human resource capacity building).

								
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