News
“Bite greater than the Bark” says Deputy Premier as TCI put on Grey List
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.
Wilkie Arthur
Court Correspondent
#TurksandCaicos, May 15, 2024 – It was an uneasy night on Tuesday May 14 for some residents of Five Cays, Providenciales owing to continuous, serious fire power with gun shots blaring in various areas of the community.
Some say they heard shots in Granny Hill and reported a man walking around with a gun, randomly shooting at unidentifiable targets. Some say shots were heard behind the Enid Capron Primary School. Some say they heard gun shot sounds coming from a residential area as well.
The most compelling accounts, however, were on reported events in another area called “The Wells”; a community in the depths of Five Cays and South Dock.
Criminals took on law enforcement in a gun battle involving the armored truck and a CID vehicle.
No members of the Royal TCI Police were hit.
Not the same for the other side. One person was hit, a young man not known to police and it’s not clear if he was one of the men shooting at the police or an innocently caught in the crossfire.
The man was arrested as a possible suspect. He is also in hospital with an “entrance and exit” gunshot wound.
During the shootout in The Wells, the CID vehicle was shot at repeatedly, disabling its movement as gunfire damaged the engine. Concerning to us, these shootings were at different times and locations but came in rapid succession; one right after the other, I was told.
Most described the sounds as coming “from some big guns.”
Police the morning after allowed me in to see up close.
Video, photos feature my EXCLUSIVE, close-up look at the damage done by criminals; it is clear high powered rifles were used by these suspects still at large.
Wilkie Arthur
Freelance Court Correspondent
#TurksandCaicos, May 21, 2024 – A gruesome discovery was made around midday today (Sunday, May 19th, 2024) when police and fire rescue teams responded to a call at a location on Blue Hills Back Road, off Millennium Highway. The area, situated next to the Fortis Sub-Station, is accessible via a long, secluded dirt road.
Upon arrival, authorities found a vehicle completely engulfed in flames. The vehicle was later removed by police after being alerted by
an anonymous source to its burnt-out location. Local residents indicated that the fire had been ignited around 2-3 a.m. earlier that morning, but authorities were not notified until later in the day.
Residents could not provide details about the individual inside the vehicle or even discern its color due to the extensive damage caused by the fire. Videos of the discovery location are available, but footage of the vehicle itself will be provided once it has been located. The vehicle was reportedly still burning when police arrived at the scene.
Official Royal TCI Police Report:
Media Release – May 19th, 2024: Active Investigation Officers of the Royal Turks and Caicos Islands Police Force (RTCIPF) are currently on the scene of a vehicle fire in the Blue Hills, Providenciales area. Acting on received information, officers arrived at the location along North Side Close and discovered a burnt vehicle with what appeared to be a body inside.
The RTCIPF is conducting a thorough investigation to determine the circumstances of this incident. As this is an active investigation, more details will be provided to the public as they become available.
May 21, 2024 – The Turks and Caicos Islands have clear laws prohibiting the possession of firearms and or ammunition without a licence and strict penalties in order to serve and protect the community. Our Firearms Ordinance, which was amended in 2022, states that:
No person (other than a licensed gunsmith in the course of his trade) shall have in his possession, discharge or use any firearm or ammunition unless he is the holder of a firearm licence with respect to such firearm, or in case of ammunition he is the holder of a licence for a firearm which takes that ammunition.
Firearm and/or ammunition offences carry a mandatory minimum custodial sentence of twelve years plus a fine. Where a court finds there are exceptional circumstances, the sentencing judge has discretion, under the law, to impose a custodial sentence and a fine that are fair and just in the circumstances of each case rather than impose the mandatory minimum.
The Chief Justice is advancing sentencing guidelines in respect of the application of exceptional circumstances. Wider work is also ongoing with criminal justice partners to review the efficiency and effectiveness of case progression, in driving justice outcomes.
It is the traveller’s responsibility to ensure their baggage is free of firearms and/or ammunition. Permission from an airline carrier does not constitute permission to bring firearms or ammunition into the Turks and Caicos Islands. Travellers are also strongly advised to search their luggage before they travel to the Turks and Caicos Islands to ensure they do not bring in forbidden items inadvertently. Such offences will result in arrest.
The Turks and Caicos Islands is a British Overseas Territory with a common law legal system, and reserves the right to enforce its laws. All persons, including visitors, must follow lawful process.
The Turks and Caicos Islands welcomes all visitors but reminds travellers that persons in the Turks and Caicos Islands do not have a constitutional right to carry firearms. Equally, the importation of firearms, ammunition (including stray bullets), and other weapons is strictly forbidden, unless licence to do so has been issued by the Commissioner of Police.
-
News2 days agoEleven Senators, Three Governors make appeals for Leniency; Five Americans now face 12 Years in Prison
-
TCI News1 week agoEquity in Energy says Bahamas Energy & Transport Minister in legislative roll out
-
TCI News1 week agoAMERICAN MOTHER AND DAUGHTER ALLEGEDLY ARRESTED FOR TWO BULLETS
-
TCI News1 week agoFamily of 16 tourist claims negligence in Grand Turk jet ski death; Coroner’s Court hearing evidence
-
Bahamas News1 week agoThe Bahamas Successfully Hosts Its Fourth World Athletics Relays
-
News23 hours agoAlleged Theft of Female Employee’s Bag by Co-worker
-
TCI News1 week agoPolice Swarm Five Cays, newest murder victim is 37 year-old man
-
News1 week agoMan charged with illegal importation; 14 vials of liquid marijuana shipped in from Canada