his paper is a work in progress and is a part of the tax harmonization exercise being pursued by CARICOM. This paper was prepared as a part of the U.W.I., Mona Post-Graduate 2003 internship program
for the Regional Tax Policy and Administration Unit of the CARICOM Secretariat, Guyana. Special thanks should be given to the Tax Advisor Ms Marva Lee for useful comments and to staff members of the
statistics section for support in data collection.