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“Bite greater than the Bark” says Deputy Premier as TCI put on Grey List

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By Deandrea Hamilton & Dana Malcolm

Editorial Staff

 

#TurksandCaicos, March 22, 2022 – The Turks and Caicos Islands is back on the EU Grey List as a non-cooperative tax jurisdiction along with several other Caribbean countries, including two which are in an even more precarious category; the black list.

E. Jay Saunders, the TCI’s Deputy Premier said however, this is an unfair characterization when he made the reveal last week about the listing in the House of Assembly.

“What happens when a country is on put on the list of Non-Cooperative jurisdictions Mr. Speaker? Well according to the European Council website, its member states “will act together to put pressure for reform”. Mr. Speaker, as I am sure you’re aware, this is one of those rare times when the bite is greater than the bark,” said the Minister in parliament.

He also acknowledged that the list is not a desirable place for any country and has vowed to get the Turks and Caicos out the unfavourable category.

“Mr. Speaker, as the guardian of the financial services sector, I am pleased to say to the people of the Turks & Caicos Islands, especially those who work in financial services, that one country that is not on the list is the Turks & Caicos Islands. Mr. Speaker, jurisdictions that do not yet comply with all the EU international tax standards, but have committed to reform, are included in a state of play document (Annex II). This is the list that the Turks & Caicos Islands is currently on, and I’m happy to say that once a jurisdiction meets all its commitments, it is removed from the annexes, and this is what we’re aiming to achieve.”

The ‘EU list of non-cooperative jurisdictions for tax purposes’ identifies non-EU countries that “encourage abusive tax practices which erodes member states corporate tax revenues.

According to several published reports, the Turks and Caicos has not ‘remedied failures of meeting one or more of the requisite standards within a specific timeline’ landing them on Annex ll of the list.

The KPMG report on February 28th confirmed that The Bahamas, TCI and others were added to this list since February 4.

The Turks and Caicos was last gray listed in May 2018 for ‘the existence of tax regimes that facilitate offshore structures which attract profits without real economic activity.  The situation was  then rectified in 2019 by former Premier and Finance Minister, Sharlene Robinson who, in a statement said she had worked with stakeholders to avoid this negative listing and country was removed.

Now the TCI is back to this unattractive place for financial services and business practices.

“Mr. Speaker, the EU has a program to address what they deem as “harmful tax practices” by countries. The EU aim is to have countries comply with a set of “objective tax good governance criteria, which include tax transparency, fair taxation and implementation of international standards designed to prevent tax base erosion and profit shifting.”

Mr. Speaker, on the 24 February 2022, the European Council ruled on the revised EU list of Non-Cooperative jurisdictions for tax purposes. Countries on the list are described as encouraging “…abusive tax practices, which erode [EU] member states’ corporate tax revenues”. What happens when a country is on put on the list of Non-Cooperative jurisdictions Mr. Speaker? Well according to the European Council website, its member states “will act together to put pressure for reform”.

The Deputy Premier stopped short of saying the country was on the grey-list, but did offer the assurance that the TCI is committed to reform.

“I want to take this time to congratulate the Ministry of Finance team, particularly Mr. Henry Saunders, Director, Financial Transactions Information Exchange, and his team; and the PS of Finance, Mrs. Athenee Harvey-Basden and her team; who worked very hard to ensure that we met the requirements to be included on Annex II, and who are working very hard for our jurisdiction to be removed from the Annexes altogether.”

Other countries named to the Grey List are: Belize, Bermuda, the British Virgin Islands, Israel, Montserrat, Russia, Tunisia and Vietnam.  Trinidad and Tobago and the US Virgin islands have been named as countries with harmful tax practices; these have been ‘Black Listed.’

The Turks and Caicos and other ‘grey-listers’ have until October to shape-up.

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Government

$94.1Mfor Health; Knowles Pushes to Keep Care at Home

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Turks and Caicos, April 25, 2026 – A major shift in how healthcare is delivered in the Turks and Caicos Islands is at the center of the Government’s latest budget, with a focus on reducing reliance on overseas treatment and strengthening services at home.

Presenting his contribution to the national debate, Kyle Knowles outlined a strategy aimed at building a more sustainable healthcare system—one that allows more residents to access quality care within the country.

The health sector has been allocated $94.1 million, making it one of the largest areas of public spending in the $550.8 million Budget passed on April 23.

Central to the Minister’s approach is a restructuring of the Treatment Abroad Programme (TAP), which has grown significantly in recent years as more patients are sent overseas for specialized care.

The Government now aims to reverse that trend.

“We are reforming healthcare to ensure long-term sustainability,” Knowles indicated, pointing to efforts to strengthen local services and reduce the need for travel.

The strategy includes improving healthcare infrastructure, expanding services available within the islands and increasing efficiency through the digitization of medical records.

Digitization is expected to support better coordination of care, reduce delays and allow for more accurate tracking of patient needs—part of a broader effort to modernize public services.

The Minister emphasized that the goal is not only cost control, but improved access.

“No family should have to leave home to get quality care,” he said, underscoring the Government’s intention to refocus healthcare delivery on local capacity.

The shift comes as rising healthcare costs continue to place pressure on public finances, with overseas treatment representing one of the most expensive components of the system.

By investing more heavily in domestic services, the Government is seeking to reduce that burden while improving outcomes for residents.

While the direction is clear, details on timelines and the pace of expansion for local services were not fully outlined in the presentation.

Still, the emphasis on sustainability, access and modernization signals a strategic pivot in how healthcare is expected to evolve in the Turks and Caicos Islands.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Government

Premier Defends Budget Strategy, Rejects Claims of Inefficiency

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Turks and Caicos, April 25, 2026 – Premier Charles Washington Misick has pushed back against criticism of the Government’s newly passed budget, defending both its direction and execution as deliberate and necessary for national development.

Wrapping up debate on the $550.8 million Budget, passed on April 23, the Premier dismissed concerns raised by the Opposition about inefficiency, rising costs and gaps in delivery, insisting the Government’s approach is measured and focused on long-term growth.

“This budget is about delivering for our people,” Misick said, as he reinforced the administration’s commitment to infrastructure, healthcare expansion and broader economic development.

Opposition Leader Edwin Astwood had earlier challenged the Government’s performance, pointing to unfilled posts, delayed projects and what he described as weak execution despite increasing allocations.

In response, the Premier rejected the notion that the Government is failing to deliver, instead arguing that building national capacity takes time and sustained investment.

He maintained that staffing challenges are being addressed and that improvements across ministries are ongoing, even as demand for public services grows.

The Premier also defended the scale of spending, framing it as a necessary step to support development across the islands, rather than unchecked expansion.

“We are investing in the future of this country,” he said, pointing to continued funding for infrastructure, community development and public services.

On the question of equitable growth, Misick reiterated his administration’s focus on balanced development, including ongoing investments in the Family Islands.

He argued that progress is being made, even if transformation is not occurring as rapidly as some would like.

Throughout his closing remarks, the Premier leaned on the country’s economic fundamentals—highlighting strong cash reserves, stable growth projections and international confidence in the Turks and Caicos Islands’ fiscal management.

While the rebuttal addressed criticism head-on, it did not significantly alter the structure of the budget or introduce major new measures in response to concerns raised during the debate.

Instead, the Government’s position remained consistent: the plan is in place, the investments are targeted, and delivery will continue.

The exchange underscores a clear divide—between an Opposition pressing for faster, more measurable results, and a Government maintaining that its strategy is already on course.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

PHOTO COURTESY OF THE OFFICE OF THE PREMIER

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Government

Digital Government Push Advances, but Reliability and Security Details Remain Unclear

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Turks and Caicos, April 25, 2026 – There was no mistaking the enthusiasm of the Minister of Finance, Investment and Trade, E. Jay Saunders, as he laid out his vision for a more digitally driven Turks and Caicos Islands—one where services are faster, systems are connected, and doing business is easier.

But within that forward-looking presentation, what remained notably absent were clear timelines and defined measures to ensure data security and system reliability.

“We are moving toward a fully integrated digital government,” Saunders told the House, as he outlined a future where public services are delivered seamlessly through technology.

With responsibility for the country’s economic and digital transformation, Saunders pointed to several areas expected to be reshaped by the rollout of e-government systems, including revenue collection, business licensing, customs processing and access to public services—all designed to reduce delays, improve compliance and streamline transactions.

The vision is one of convenience and efficiency: fewer lines, faster approvals, and systems that communicate across departments rather than operate in silos.

Within the framework of the Government’s $550.8 million Budget, passed on April 23, the digital push is positioned as a key driver of modernization and improved service delivery.

However, for many users, the experience of government systems today remains inconsistent.

Periodic outages, payment disruptions and service downtime continue to affect daily transactions, raising practical concerns about how quickly the country can transition to a fully digital model.

Despite the scale of the ambition, the Minister’s presentation did not directly address how system reliability will be strengthened or how data will be protected as more services move online.

Those elements—uptime, security and resilience—are critical to public confidence, particularly as businesses and residents become increasingly dependent on digital platforms to access government services.

The direction is clear, and the potential impact is significant.

But as the country moves closer to greater digital dependence, the success of that transformation will ultimately rest not just on what is promised—but on whether the systems can be relied upon when they are needed most.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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