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IRS NOTICE 2017-46

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#Providenciales, June 18, 2019 – Turks and Caicos – On September 25, 2017, the IRS issued Notice 2017-46 which provided for the following:

  • Addressed Financial Institutions’ (“FIs”) obligations to obtain and report taxpayer identification numbers (“TINs”) and dates of birth (“DOB”) under chapters 3 and 4 of the Internal Revenue Code;
  • Extension of the deadlines imposed on FIs under Model 1 Intergovernmental Agreements (“IGAs”); and
  • Chapter 3 and 4 final and temporary regulations released January 6, 2017.

U.S. TIN and DOB Reporting

  • Under the Model 1 IGAs, Foreign FIs (“FFIs”) are required to obtain and report U.S. TINs for all reportable account holders and controlling persons.
  • For tax year 2017, an FFI failing to include a reportable person’s U.S. TIN would be considered significant non-compliance, triggering a notice from the IRS to the FFI’s tax authority.
  • Where an FFI is non-compliant for 18 months after the issuance of a notification, that FFI would be classified as a nonparticipating FFI and would be subject to FATCA withholding.
  • An extension is provided to FFIs that have been unable to obtain TINs, allowing them to not be deemed as non-compliant solely because they file tax year 2017, 2018, and 2019 FATCA reports without TINs.
  • Where an FFI is unable to obtain TINs, they will be required to undertake the following:
    • Obtain and report the DOB of each reportable account holder and controlling person missing a TIN;
    • Request annually any missing TIN from such persons; and
    • Undertake a search of electronically searchable data maintained by the FFI for the missing TINs prior to the submission of tax year 2017 reports.

Withholding Certificate Validity: Foreign TIN and DOB Requirements

The following amendments will be made by the IRS and Treasury Department: the temporary chapter 3 regulations:

  • The circumstances in which Foreign TINs and DOBs are required for Global Financial Services Industry will be narrowed;
  • Clarification of the definition of “account holder,” “account,” and “financial institution” under the temporary regulations to align with their meaning under the chapter 4 regulations;
  • A Foreign TIN or DOB will not be required where a withholding certificate is obtained solely to avoid Form 1099 reporting and backup withholding;
  • The requirement that any account held by a resident in a jurisdiction that does not have an information exchange agreement with the U.S will be excluded from the Foreign TIN;
  • There will also be an exception for accounts held by residents in jurisdictions that do not issue Foreign TINs. The current list is limited to Bermuda, the British Virgin Islands, and the Cayman Islands;
  • A phase-in period has been provided through December 31, 2019, to provide withholding agents additional time to obtain Foreign TINs. Withholding certificates signed on or after January 1, 2018, the Foreign TIN— or a reasonable explanation for its absence—must be present on the form. Such Foreign TINs are not required to be validated against any jurisdiction’s format or TIN system provided the withholding agent does not have a reason to know it is invalid;
  • A withholding certificate signed before January 1, 2018, will not be treated as invalid under the amended temporary regulations solely because of a missing Foreign TIN;
  • Payments made before January 1, 2018, a Foreign TIN is not required, and the withholding certificates will be valid until the earlier of “(1) December 31, 2019; (2) the expiration date of the validity period of the withholding certificate [if applicable]; or (3) if applicable, the date when a change in circumstances requiring a revised withholding certificate occurs.”;
  • A withholding certificate will remain valid beyond December 31, 2019, if the withholding agent obtains a written record of the Foreign TIN or if the Foreign TIN is otherwise within the withholding agent’s files. 

Form 1042-S Reporting

  • Form 1042-S will be amended to provid instructions to require Foreign TINs to be reported for tax year 2018 and beyond where they are available, either from withholding certificates or the alternative procedures outlined above for obtaining Foreign TINs;
  • For tax year 2017, the instructions will be amended to require DOB reporting in instances where the individual account holder’s DOB is available on the withholding certificate or within the withholding agent’s electronically searchable information;
  • For tax year 2018 and beyond, the DOB will be required if it is identified in any of the withholding agent’s files, whether electronically stored or otherwise.

This Notice in its entirety can be viewed on the Internal Revenue Service website at https://www.irs.gov/pub/irs-drop/n-17-46.pdf.

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Independent writer

Letter to The Editor

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(STOCK PHOTO)

“PNP Healthcare Ministers Carrying on Tradition”

By Randy Ewing

There are several areas that are critical to the everyday quality of life and standard of living in any civilized country: healthcare, economic development, adequate infrastructure, public safety, and education. Yet, as Sabrina Green highlighted in her recent article, there remains a troubling reality in the Turks and Caicos Islands: too often, our own people—particularly qualified Turks and Caicos Islanders—are marginalized when decisions are being made about the future of our country.

I want to focus specifically on healthcare.

Under the current PNP administration, several ministers have held responsibility for the healthcare portfolio, including Hon. Jay Saunders, Hon. Shawn Malcolm, and now Hon. Kyle Knowles, who is also my cousin.

I am not writing this because I expect anything to be handed to me. I am writing as a Turks and Caicos Islander and as a healthcare professional who has spent more than 26 years working in the healthcare industry.

My efforts to offer my expertise to the government were never motivated by money, political ambition, or the expectation of special treatment. They were motivated by something much simpler: giving back to the country that produced me.

I am from the soil.

I am from Blue Hills, Providenciales. I know our people. I know our culture. I understand our eating habits, the history and circumstances behind those habits, the foods that are locally available, and the realities that many families face when healthier food choices are more expensive or less accessible.

Professionally, I bring more than two decades of healthcare leadership and consulting experience. I hold an MBA with a concentration in Health Administration. I am a Lean Six Sigma Black Belt with a healthcare concentration and a change-management specialist with healthcare experience. Over the course of my career, I have held leadership positions and worked with organizations including Memorial Hospital, Aetna Health, and Blue Cross Blue Shield, as well as within the U.S. federal government. I have also provided consulting services to healthcare organizations, municipalities, cities, states, and organizations throughout the Caribbean.

I share this not to boast about my credentials, but to make a simple point:

There are Turks and Caicos Islanders who have spent decades acquiring knowledge and expertise that could be valuable to the development of our country.

Why aren’t we listening to them?

I understand that the government has engaged outside consultants to provide advice and expertise. There is certainly a place for specialized external expertise. But I believe we must also ask an equally important question: What measurable improvements have these investments produced for the people of the Turks and Caicos Islands?

Our healthcare challenges remain.

Our people continue to face serious health issues. People still have to travel overseas to obtain medical treatment. Families continue to worry about whether the healthcare system will be there when they need it. And many residents remain concerned about whether they are receiving the quality, accessibility, and affordability of healthcare they deserve.

So I ask our leaders: Where are the measurable outcomes?

Where is the long-term strategy?

What is the plan for developing sustainable healthcare capacity within the Turks and Caicos Islands?

And, perhaps most importantly, why aren’t more qualified Turks and Caicos Islanders being brought to the table?

This is not an argument against outside expertise. It is an argument for including our own people alongside it.

We know our communities in ways that an outside consultant cannot immediately know. We understand our history. We understand our culture. We understand the socioeconomic realities that influence health. We understand what people eat, what they can afford, what resources are available locally, and the barriers that prevent people from living healthier lives.

That knowledge matters.

Healthcare policy cannot exist only on paper. It has to work for the people who actually live here.

As the Turks and Caicos Islands continue to grow and prosper economically, we must also ask whether that prosperity is translating into better health outcomes and a better quality of life for our people.

Economic growth means little if our people cannot access adequate healthcare.

Infrastructure means little if our healthcare infrastructure cannot meet the needs of our population.

And progress means little if our people continue to believe that they must leave their own country to receive the care they need.

Minister Knowles, I respectfully ask you—and every minister and policymaker responsible for healthcare—to listen to the Turks and Caicos Islanders who have spent decades developing expertise in healthcare.

Listen to the professionals who have returned home with knowledge.

Listen to the people who understand our communities.

Listen to those who are offering their expertise not because they want something from the country, but because they want to give something back to it.

I have made that offer.

My experience, my education, and my professional knowledge are not simply credentials on a résumé. They represent more than 26 years of learning, leading, solving problems, and working to improve healthcare systems.

And I believe that expertise should have a place in the conversation about the future of healthcare in my homeland.

The Turks and Caicos Islands belong to all of us.

Our healthcare system belongs to all of us.

And our people deserve a healthcare system designed around their needs, informed by evidence, strengthened by expertise, and built with meaningful participation from the very people who call these islands home.

It is time to stop asking whether our people are qualified enough to contribute.

It is time to start asking what we are losing by not listening to them.

Our people deserve better.

And those of us who have the knowledge, experience, and willingness to help should not stop offering it.

Marvin Martin, MBA, LBBH, CMS

 

(STOCK PHOTO)

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News

Liberty Business launches in Turks and Caicos Islands

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enabling digital transformation across key sectors and supporting enterprise customers

Providenciales, Turks and Caicos Islands (September 17, 2026) – Liberty Business has officially launched in the Turks and Caicos Islands, signalling the company’s continued transformation and strengthening its commitment to helping businesses navigate digital change, drive growth and build greater resilience.

The announcement was made during a special stakeholder event attended by government representatives, business leaders, industry partners, customers and members of the media, marking the next chapter in the company’s long-standing relationship with the Turks and Caicos Islands.

“Today represents far more than the introduction of a new name. It reflects our continued evolution as a business and our commitment to being a trusted technology partner for organisations navigating an increasingly digital economy,” said Susanna O’Sullivan, Vice President General Manager, Flow North Caribbean, Liberty Caribbean.

“Through Liberty Business, we are bringing together the strength and capabilities of Liberty Caribbean with local expertise to help businesses across the Turks and Caicos Islands connect, protect, innovate and grow. We want to be a partner that understands the ambitions of our customers and works alongside them to create meaningful business value.”

Liberty Caribbean is the operator of Flow, Liberty Business and BTC, serving customers across more than twenty markets in the region.

The launch of Liberty Business builds on the company’s long-standing presence in the Turks and Caicos Islands and its continued investment in communications infrastructure, technology and digital capabilities across the Caribbean.

Today, Liberty Caribbean operates one of the region’s most extensive communications networks, supported by approximately 50,000 kilometres of subsea and terrestrial fibre infrastructure, helping enable resilient, secure and high-performance connectivity across the region.

For businesses, the evolution comes at a time when technology is playing an increasingly important role in productivity, customer experience, cybersecurity, business continuity and growth.

“Businesses today need more than connectivity. They need technology solutions that can help them operate efficiently, protect their information, support their people and respond to change. We are excited to begin this next chapter with businesses in the Turks and Caicos Islands and to work together to build a smarter, stronger, more resilient and more connected digital future,” said O’Sullivan.

Liberty Business brings together an integrated portfolio of enterprise solutions, including advanced connectivity, cybersecurity, cloud services, data centre solutions, managed services, enterprise mobility and unified communications under a single brand dedicated to supporting the evolving needs of business customers.

Also speaking at the launch, Joanne Missick, Country Manager, Flow Turks and Caicos Islands, said the introduction of Liberty Business demonstrates the company’s commitment to evolving alongside the local business community.

“The Turks and Caicos Islands is a dynamic market with tremendous potential, and our businesses are increasingly embracing technology as an enabler of growth,” said Missick.

“From tourism and hospitality to financial services, real estate, construction, professional services and entrepreneurship, organisations are looking for ways to become more efficient, secure and resilient. Liberty Business gives us the opportunity to engage our customers differently – understanding their individual needs and helping them identify technology solutions that can support their ambitions.”

Missick added that the company’s approach is centred on building lasting relationships with businesses and providing solutions that address real-world challenges.

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Education

TCI Schools Invited to Participate in 2026 National Student Council Election

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Providenciales, Turks and Caicos Islands – Thursday, 17 September 2026: The Ministry of Education, Youth, Sports and Culture has partnered with the Turks and Caicos Islands Elections Department to bring an exciting national election experience directly to high school students across the country with the launch of the 2026 National Student Council (NSC) Election.

Held under the theme “Your Voice. Your Country. Your Future.”, the initiative will give students from all 14 public and private high schools the chance to campaign, vote and compete for national student leadership positions, while gaining first-hand experience of the electoral process.

Minister of Education, Hon. Rachel Taylor, said the initiative gives young people a national platform to share their ideas and develop their leadership skills.

“Our young people have ideas, opinions and perspectives that deserve to be heard, and this election gives them a national platform to use their voices in a meaningful way. We want our students to step forward with confidence, share the issues that matter to them and experience what it means to lead and represent others.” She continued, “I am particularly excited to see students from schools across the Turks and Caicos Islands getting involved, supporting their candidates and participating in the voting process. I encourage every school to embrace this opportunity and help us create an experience that our students will learn from and enjoy.”

Each high school will nominate one student candidate to represent their school at the national level. Candidates will campaign for the positions of President and Vice President, sharing their ideas, priorities and plans with student voters across the Turks and Caicos Islands. Both positions will be decided by electronic vote among high school students across the country.

The remaining four positions on the six-member National Student Council:  Secretary, Assistant Secretary, Treasurer and Public Relations Officer. will be determined through an internal vote among the top candidates following the national election.

The election will mirror several elements of the Turks and Caicos Islands’ electoral process. Candidates will choose a party name, colour and symbol, develop a manifesto and campaign slogan, and make their case to student voters. Their names, party information and symbols will appear on an electronic ballot, giving students the opportunity to experience the process as both candidates and voters.

Acting Elections Supervisor Willette Pratt stated that the timing of the initiative is particularly significant as the country continues its focus on civic awareness and youth participation.

“Coming on the heels of Constitution Day and as we prepare to celebrate National Youth Week this September, this is a timely opportunity to put civic education into practice. We want young people to understand that democracy is not only about casting a vote; it is about being informed, participating and understanding that their voice matters. We are excited to see our schools and students embrace the experience.”

Once students are selected and endorsed by their school, candidates must submit a completed Candidate Information Form, a Student Manifesto of no more than 250 words, and a 45- to 60-second Campaign Video PSA introducing themselves and outlining the issues and priorities they hope to champion.

Candidates are expected to campaign fairly and respectfully, focusing on ideas, student issues and their plans as aspiring student leaders. Personal attacks, bullying, false or misleading information, and offering gifts or incentives in exchange for votes are prohibited. Breaches of the campaign code of conduct may result in the loss of campaign privileges or disqualification.

For candidates, it is a chance to share their ideas and test their leadership skills on a national platform. For student voters, it is an opportunity to have a say in who represents them and experience the electoral process first-hand.

With candidate selection underway, the Elections Department and Ministry of Education are looking forward to seeing students step forward, bring their ideas to the campaign and, ultimately, seeing young voters across the country make their choice at the ballot.

The 2026 National Student Council Election is an opportunity for young people to do more than learn about leadership and democracy — it gives them the chance to take part. Your Voice. Your Country. Your Future.

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