KINGSTON, Jamaica - FOUNDER and Chairman of Sandals Resorts International, Gordon "Butch" Stewart says Caribbean governments can derive even more revenue if they would take a more strategic approach to their tourism products rather than front-load tax demands.
Addressing Republic Bank's investor briefing conference in Grenada at the end of last month entitled, "Fast Forward Together — Reigning Growth," Stewart said: "It is very important that we all pay our taxes and it is incumbent upon corporate entities to make an equitable contribution to the country's exchequer. Tourism is the single largest source of income for many of the islands and has enormous potential for our Caribbean economies. That being the case, governments must be strategic in their approach in deriving revenue from it — ever mindful to ensure its continued viability."