"The UK bears the ultimate risk of potential liabilities from its overseas territories.
It is important …. that the UK should reinforce its close working with Territories to manage risks in government finances, disaster and crisis management."
This has particular significance in the context of the devastating impact of Hurricane Irma.
Tax is an effective tool available to any government to implement its social and economic policies. The current institution for collecting taxes, HM Revenue and Customs, does not allow effective use of the tax instrument.