Tax rebate for purchases of goods by tourists - (-$4.1 million)

Tax payroll at single rate with a tax credit for full time employees net revenues - $6 million

Eliminate assumed remuneration option for exempted undertakings - $20 million

Reform customs duties - $22 million - $24 million

Expand bonded warehouse availability - revenue neutral

Services included in tax base - $3.7 million ($5.7 million in licensing minus $2 million with repeal of CST)

Land tax reform -$7 million

Include undeveloped land in the tax base (no revenue given)

Total: $54.6 million - $56.6 million

(All at 2000 year levels and approximations of amounts)

Source: Report on the Bermuda Tax System. Gutman/Toder, August 4, 1999