Caribbean businesses worried about increased taxes sparked by COVID-19

Some 75 per cent of corporate leaders in the Caribbean fear their plans will be impacted by new and/or increased taxes to help pay for elevated debt levels sparked by COVID-19.

 

The finding was revealed as part of the PricewaterhouseCoopers (PwC) accounting firm's 24th annual global chief executive survey.

 

 The survey found that company chiefs in The Bahamas, Jamaica, Bermuda, Barbados and Trinidad & Tobago are increasingly focused on combating cyber security threats and are slightly less optimistic than their counterparts elsewhere about prospects for a post-pandemic rebound.

 

The survey, which polled 5,050 chief executives in 100 countries over January and February 2021, including those in the Caribbean for the first time, found that three-quarters of the region's corporate leaders agreed that tax policy changes to address rising government debt levels will impact their company's decision-making and planning moving forward.