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International Monetary Fund. Western Hemisphere Dept.
This technical assistance report on St. Kitts and Nevis highlights strengthening core business functions audit capacity (RTAT). In response to a request from the St. Kitts and Nevis Inland Revenue Division (IRD), Caribbean Regional Technical Assistance Centre provided capacity development (CD) in strengthening audit capacity under the RTAT training program. The main objective of this CD was to strengthen capacity to audit and verify accuracy of reporting by taxpayers in the Financial Sector. The CD started with the provision of five days of training of IRD auditors where the purpose was to prepare the authorities to implement the necessary actions in adopting good practice in auditing the Financial Sector. The IRD will build on this training and CD when designing future audit program. Given the importance of Financial Sector in St. Kitts and Nevis, further support to ensure compliance in the sector would be beneficial. The IRD will need further assistance to strengthen the audit program of the Financial Sector and support to review of tax returns of the companies in that sector. As a first step the audit team should, develop a program of profile meetings to gather relevant information on the operations of various businesses in the sector.
Mr. Maximilien Queyranne
,
Mr. Wendell Daal
, and
Ms. Katja Funke
To provide policymakers in the Caribbean with a governance framework for improving infrastructure through Public-Private Partnerships (PPPs), while limiting their fiscal costs and risks for the government. And to showcase Canada support to FAD technical assistance in the region and FAD collaboration with CARTAC and the Caribbean Development Bank