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Bilateral Meeting with EU Code of Conduct Group and TCI

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#TurksandCaicos, February 27, 2018 – Providenciales – The Hon. Premier – Mrs. Sharlene Cartwright Robinson convene a special meeting with the Code of Conduct Group on Monday 19th, February 2018 to have bilateral talks with the COCG who has responsibility for evaluating countries compliant standing.  The meeting was held as a result of standard communications received from the Secretariat of the COCG relating the EU Screening and Evaluation Process.

Member States of the European Union collectively agrees to published a list of non-cooperative jurisdictions for tax purposes. Any country failing to meet the standard for international cooperation defined by the Code of Conduct Group – Business Taxation is deemed to be non-complaint and is placed on the EU Blacklist of non-cooperative jurisdictions.

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Turks and Caicos Islands assessment for 2017 was deferred due to the storms of 2017 (Hurricanes Irma and Maria) but still require to have in place, and to commit by the end of 2018 to have implement the three (3) fundamental requirements of the EU compliant standard criteria.

  1. Tax transparency
  2. Fair Taxation
  3. Implementation of anti-BEPS measures

Criteria 1 and 3 have meet the standard and is in place via the various automatic reporting of financial accounts information carried out by CRS – Common Reporting Standard.  The absence of a direct taxation reporting regime gives the appearance of preferential treatment for companies to set up offshore structures or arrangements aimed at attracting profits which do not reflect real economic activity in the jurisdiction.

Despite sharing Turks and Caicos Islands taxation regime, the fair taxation criteria is the most critical concern to the COCG evaluation and screening exercise.  All jurisdictions with offshore financial services businesses are affected by this criteria, and have to present strategies of how their jurisdictions are proposing to addressed this concern.

Turks and Caicos Islands discussions with the Code of Conduct Group on the fair taxation criteria concern was very fruitful and promising with further dialogue to continue with a view to satisfying the COCG requirements.  This does not call for the imposition of direct taxation.

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Premier Robinson commenting on the Meeting stated “I was pleased for TCI to have been able to have an audience in this way with the COCG on this important issue.  I was even more pleased to be able to demonstrate to the representatives the important partnership between the public and private sector and our joint commitment to comply with international standards.  It was a great opportunity to enlighten the members of TCI’s position even ahead of our official response to the Questionnaire.  The Ministry of Finance along with several key stakeholder departments will continue to lead collaboratively and we are committed to ensuring that TCI is not blacklisted”.

Photo Caption: TCI Delegation: Hon. Premier – Mrs. Sharlene Cartwright – Robinson, P/S Finance – Mrs. Athenee Harvey   – Basden, Director EOI Unit – Mr. Henry Saunders, London Rep – Ms. Tracy Knight & TCI Private Sector Rep – Mr. David Stewart.

 

Hon Sharlene L Cartwright Robinson

Premier & Minister of Finance

The Turks and Caicos Islands

 

 

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Caribbean News

Turks & Caicos Islands Cabinet Report, Meeting held January 10

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#TurksandCaicos, January 26, 2023 – His Excellency the Governor, Nigel Dakin, chaired the 1st meeting of Cabinet on Tuesday 10 January 2023 at the Premier’s Office on Providenciales.

All Members were present.

At this meeting Cabinet:

  • Approved the Fiscal Strategic Policy Statement (FSPS) 2023-27 which includes the fiscal targets of the Government for the next four (4) years to be submitted to the UK Government before being submitted to the House of Assembly for approval. Members also agreed a wide range of associated steps going forwards.
  • Approved an application for duty concessions on the importation of construction materials, furniture, fixtures and fittings from Grace Bay Club Ltd. to allow the resort to complete refurbishment work.
  • Approved an extension and revision to the MOU between the TCI Government and TCI Finance Limited, which leads on the development and growth of Financial Services in the Turks and Caicos Islands.
  • Approved adjustments to the Agriculture Finance Support Programme (Agro- Grant Incentive) for the provision of compensation for registered farms that incurred damages due to Hurricane Fiona in 2022. Members also supported the adoption of a “Farmer Information System”.
  • Approved proposed measures to control the roaming of livestock in the country covering the registration of livestock farms, construction and maintenance of holding facilities, and the transport of livestock.
  • Approved a proposed model and structure for the New Destination Management and Marketing Organisation and Tourism Regulatory Authority. Members also approved an implementation process, the composition of the appointed Board of Directors, staffing implications, and a financing model, including the establishment of Tourism Improvement Districts and the payment of fees by tourism entities.
  • Approved amendments to the Schedule of the Ports Authority (Stevedorers, Fees, and Charges) Regulations 2008, introducing a variation of stevedoring tariffs. Members also agreed next steps.
  • Noted the impact of the moratorium on the issuance of new visas to Hattian nationals originating out of Haiti and approved the implementation of a moratorium on the issuing of all visas to Haitian Nationals entering the Turks and Caicos Islands for six months with effect from 11 January 2023.
  • Approved the granting of a licence to a named individual for the purpose of erecting a swim deck protruding from the Crown parcel 60400/366 into the adjoining sea and the payment of associated annual fees.
  • Approved the renewal of a lease for the rental of office space for the Government’s Planning Department on Providenciales for a period of three years.
  • Discussed the renewal of a lease for the rental of office space for the Government’s Gender Affairs and Social Development Departments on Grand Turk and agreed next steps.
  • Approved the use of existing funds for the use of retrofitting the Turks and Caicos Islands Community College.
  • Approved the gradual outsourcing of janitorial services for government buildings, including schools.
  • Approved the observance of Public Holidays on 8 May 2023 to mark the King’s Coronation and on 19 June 2023 to mark the King’s Birthday.
  • Was updated on issues related to the Ministries of:
  1. Tourism,
  2. Education, and
  3. AG Chambers,
  4. Office of the Deputy Governor, and
  5. Office of the Governor

Further information on these matters will be provided by Ministers in due course.

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Caribbean News

JAMAICA: Multibillion-Dollar Shipyard Project Launched

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#Kingston, Jamaica, January 23, 2023 – Economic opportunities are expected to abound for Jamaica, through the establishment of a multibillion-dollar ship repair and maintenance facility in the country.

Called the German Ship Repair Jamaica (GSRJ) Shipyard, the project will provide dry docking (lifting the ship out of the water) for commercial vessels up to 20,000 tons, and a range of maintenance and repair services to vessels operating in and around the Caribbean and Central America.

Phase one of the project, which is to be completed by October/November this year, is being undertaken at an overall cost of nearly $6 billion (or US$37 million), with financial partner Sagicor Bank committing to half of this amount as a bank loan. This will see the first floating dry dock, JAM-DOCK 1, becoming operational.

Prime Minister, the Most Hon. Andrew Holness, who  delivered the main address at Tuesday’s (January 24) launch at the Kingston Harbour along the Sir Florizel Glasspole Highway,  said that “this project will earn foreign exchange”.

“It will provide high-quality jobs, and it will contribute greatly to the prosperity of our country,” he added.

Mr. Holness noted that the development will contribute to the positioning of Kingston Harbour as a global logistics hub, pointing out that each year, Jamaica receives approximately 3,000 port calls while approximately 180,000 vessels operate within the region.

“With the investments that are being made in improving Kingston as a logistic hub, we are certain that we have now closed one of the major gaps that have existed and that more ships passing through the region will be inclined to come to Jamaica,” he said.

For his part, GSRJ Limited Chief Executive Officer (CEO), Colonel Martin Rickman, said that the project “represents a new industry for Jamaica with great opportunities for other spin-off businesses, hence even contributing more to the economy”.

He pointed out that Jamaica’s “excellent geo-strategic location” makes the country particularly suitable for having a shipyard.

Detailing the specific operations of the facility, Colonel Rickman explained that “we here at GSRJ Shipyard will be able to lift that ship out of the water to conduct many types of work on the hull, the propeller, engine repairs and the entire nine yards, so this is significant for us”.

By international maritime law, all ships are required to be dry-docked to check for safety and integrity once every five years and attain class certification.

The CEO said that the training component of the project is crucial to enable  workers to meet the international standards to carry out the required operations.

He informed that some persons have already been trained.

In his remarks, President and CEO of Sagicor Group, Christopher Zacca, said that as lead arranger, the organisation is “confident that this new development will make a significant impact on the country’s shipping industry while also contributing to our productive economy”.

“We want all Jamaicans to share the vision of the stakeholders; this is a big deal for Jamaica and we want Kingston to have the leading ship repair and servicing port in the Caribbean,” Mr. Zacca said.

The GSRJ’s partners include Harren and Partner Group, Germany; Kingston Holding, Jamaica; Kloska Group, Germany and HAT-SAN Shipyard, Turkey.

Government agencies involved in the project are the Development Bank of Jamaica (DBJ), the National Land Agency (NLA), National Environment and Planning Agency (NEPA), the Attorney General’s Department, and others.

Several private-sector entities are also involved in making the project a reality.

The GSRJ started business in Jamaica in 2016 with the intention to build a ship-repair facility at the Kingston Harbour to boost employment and introduce the country to viable economic activities in the shipping and maritime industry.

 

Contact:  Mickella Anderson

Release: JIS

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Government

DELANO ARTHUR APPOINTED AS COMMISSIONER OF ENERGY AND UTILITIES

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#TurksandCaicos, January 26, 2023 – The Office of the Deputy Governor of the Turks and Caicos Islands is pleased to announce the appointment of Mr. Delano R. Arthur to the post of Commissioner of Energy and Utilities in the Ministry of Home Affairs, Transportation, Energy and Utilities.

Mr. Arthur holds a Bachelor of Science Degree in Electrical Engineering from Michigan Technological University in Houghton, Michigan (2002) and a Master of Science Degree in Information Systems and Management from the University of Phoenix in Phoenix, Arizona (2007).

With over fifteen (15) years’ service as an Engineering Professional, Mr. Arthur served in the posts of: Senior Technical Associate at the Bahamas Telecommunications Company (BTC) in Freeport, Bahamas from 2006-2009; as a Senior Project Officer and Diplomat with the Caribbean Community Secretariat (CARICOM) in Georgetown, Guyana from 2009-2011; as the Manager of Information Technology at the Grand Bahama Power Company Ltd. (GBPC) from 2012-2015; as the Operations Manager of Transmission and Distribution at GBPC from 2015-2018 and as the Director of Grid Solutions at GBPC from 2018-2022.

Mr. Arthur during his tenure at the Grand Bahama Power Company (GBPC) gained extensive experience in all aspects of engineering, technical automation, transmission, distribution and energy supply where he provided strategic and tactical planning advice on the design and operation of GBPC’s Grid inclusive of transmission and distribution, sub stations, power transformers, renewable energy, protection and relaying devices. He also served as the Technical Storm Lead for Hurricane Matthew, as well as the Project Owner to rebuild GBPC’s 45MW Base Load Generation Fleet in the aftermath of Hurricane Dorian.

Commenting on his appointment Mr. Arthur stated:

“My father and mother, having been born and raised in Conch Bar and Bottle Creek, respectively, humbles me as I consider this a pleasure to serve the people of these Islands.

I am also grateful to be part of the team that will pioneer the way in strengthening the Regulatory Regime for Energy and Utilities in these Islands, while we move towards a Net 0 carbon footprint”.

Deputy Governor and Head of the Public Service Her Excellency Anya Williams in commenting on Mr. Arthur’s appointment stated:

“It is with great pleasure that I extend congratulations to Mr. Delano Arthur on his appointment as the new Commissioner of Energy and Utilities here in the Turks and Caicos Islands.

This appointment is extremely critical in helping the Turks and Caicos Islands not only progress Energy Reform here in these islands, but also in ensuring that the appropriate regulatory functions are carried out and adhered in these islands.

Having had the early opportunity along with Premier the Honourable Dr. Charles Washington Misick to meet with Mr. Arthur since his appointment to discuss the vision for Energy Reform here in the islands and to understand his early assessment and futuristic plans for the Energy and Utilities Commission, we are fully confident in his ability to lead on these initiatives and pledge our full support of the provision of the necessary resources to ensure the Commissions success.

I wish Mr. Arthur well on his appointment and welcome him to the Turks and Caicos Islands Public Service.

Congratulations Delano!”

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