And Treasury Minister Terry Le Sueur said it could be a ‘handbook for the Island’s fiscal future’.
It is possibly the most important set of proposals the Treasury and Resources department will ever produce, as it is the framework of a new tax system.
And it is the system that will determine the future prospects for the finance industry, the main arm of the Island’s economy.
‘In effect, it is a resumé of the entire fiscal system,’ said Senator Le Sueur.
The document has been drawn up by local tax expert Jonathan Crowther with input from, among others, Comptroller of Income Tax Malcolm Campbell and States Treasurer Ian Black.
