Call for new tax arrangement with US

A world-renowned economics professor is calling on Government to facilitate a new tax arrangement with the United States. Professor Jeffrey Sachs, who is the Director of the Centre for Sustainable Development at Columbia University, says this move will allow the US to remit part of the income tax earned by Caribbean nationals working in the US. While he notes it's a complicated topic, he suggest this needs to be one of the highest priorities as it will increase the coffers for the Caribbean economies. He was delivering the 37th Adlith Brown Memorial Lecture virtually as part of the 55th Annual Monetary Studies Conference. Professor Sachs says in an economy where a very significant portion of workers are spending part or all of their working lives working in foreign territories, the tax system - payroll and income tax - needs to be a universal base to collect tax wherever those incomes are earned. Subscribe to CBC Barbados https://www.youtube.com/@cbcbarbados246 Connect with the CBC Barbados Website: https://www.cbc.bb/ Facebook: https://www.facebook.com/CBCBARBADOS/ Instagram: https://www.instagram.com/cbcbarbados246 X: https://twitter.com/CBCBARBADOS #CBCTV8 #CBCNews #ConnectingBarbadianCommunities