Coordinating Revenue Incentive Policies in the Caribbean

Volume/Issue: Volume 2020 Issue 176

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Exports and Imports , Finance , Taxation - General , Natural Disasters , WP , revenue , ECCU country , price , country , foregone revenue , incentive policy , type country , tourism sector , regimes in the ECCU , Tax incentives , Corporate income tax , Foreign direct investment , Natural disasters , Competition , Caribbean , tax competition , tourism , citizenship-by-investment , regional policy coordination , competition model , ECCU member country , ECCU citizenship program

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Summary

The pervasive use of tax incentives is costly for the Caribbean countries, yet the benefits seem limited. Better policy coordination at the regional level is needed to help overcome the collective action problems and generate more revenue to support the much-needed infrastructure investment. Using the region’s Citizenship-by-Investment (CBI) programs as an example, we also show that a price-quantity coordination mechanism can help achieve an efficient outcome with greater CBI incomes for member countries.