TCI Treasury advises on Payment of Gaming Related Taxes

#Providenciales, August 16, 2018 – Turks and Caicos – The Treasury wishes to advise of the following change which will take effect on August 20, 2018 and shall continue to be in operation until such time as the Gaming Control Ordinance comes into force and the Gaming Machines Ordinances, the Casinos Ordinance and the Turks and Caicos Islands National Lottery are repealed.

1)     All payments of gaming related taxes must be made by direct deposit to the Turks and Caicos Islands Government Bank Account as under:

Bank of Nova Scotia (Turks and Caicos Islands) Limited (BNS)

Account Number: 754415.

BNS has advised that payments may be directed to the account from the other local banks or via an internal transfer at the bank.

The gaming related taxes are:

1. a)     taxes charged and payable under the Gaming Machines Ordinance;
2. b)     taxes charged and payable under the Casinos Ordinance;
3. c)     taxes or such sums of money out of the gross receipts of the licensee required to be paid under the National Lottery License issued under the Turks and Caicos Islands National Lottery Ordinance.

 Licensees are also reminded that payment must be made by the specified due date.

2)     After making the deposit at the bank, the deposit slip must be presented to the Treasury along with the information which is currently provided including:

Name of Licensee

Period for which the tax relates

Basis and calculation of the payment

3)     An “Official Receipt” will be generated for the amount.  Please note that the tax is not considered “paid” until an Official receipt is issued. 

Release: TCIG