CITA recommends rollover exemptions
The Cayman Islands Tourism Association (CITA) will submit to the Ministry of Tourism formal recommendations on possible exemptions to the rollover policy.
According to CITA Executive Director Trina Christian, there was the association’s annual general meeting (AGM) on April 24. The participants were preparing the recommendations that are to be ready for the submission in May.
CITA Executive Director Christian said that the matter had been brought up by CITA to the Minister of Tourism, Hon Charles Clifford, at their last regular meeting on April 18. One of the issues discussed was the exemptions allowed in other offshore jurisdictions upon which the rollover policy of the Cayman Islands was modelled.
Ms Christian mentioned an online survey concerning rollover that was recently conducted on the CITA website. As regards figures posted on April 23, preliminary results reveal that a majority of respondents strongly agree that recruiting has become more difficult since the rollover was introduced and that the rollover has had a negative effect on business.
The full results of the survey will be released by CITA shortly.