United Kingdom-Montserrat-British Overseas Territory

United Kingdom-Montserrat-British Overseas Territory

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The 2011 Article IV Consultation highlights that low growth is expected for Montserrat in 2011 after sharp output contractions in 2009a€“10. Stress in the financial sector and slower-than-expected development of major capital investment projects continue to limit prospects for growth. Directors have welcomed the development of a strategy for addressing financial vulnerabilities and the initial progress in implementing it. They have supported preemptive action to minimize costs and risks and preparation of an action plan spelling out the roles of key players.The authorities intend to replace the Service Tax and the multi-rate Consumption Tax with a General Consumption Tax in a revenue neutral manner. The tax is envisioned to have a single rate of 15 percent with limited exemptions for food andanbsp;...

Title:United Kingdom-Montserrat-British Overseas Territory
Author: International Monetary Fund
Publisher:International Monetary Fund - 2012-01-20

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