News
IMF hired by TCI Gov’t; VAT seems to be a top choice for new tax
By Denadrea Hamilton
Editor
#TurksandCaicos, April 15, 2022 – Representatives of the International Monetary Fund, IMF are in country on an invitation by the Turks and Caicos Islands Government to conduct a study on the current tax regime, hired to determine, says the Minister of Finance, how TCI can improve its tax earnings.
E Jay Saunders, Minister of Finance, Investment and Trade and Deputy Premier informed our news organization this past Sunday, the goal is a tax regime which is “progressive, sustainable, predictable and simple to administer.”
While there is no highlighting of VAT by the Finance Minister in his comments to us, it has become a blazing headline as the notion, rejected by Turks and Caicos in the last PNP Administration, continues to be an option.
The Finance minister in response to our question on whether the government is again wooing the idea of Value Added Tax, explained: “in terms of government revenue, we’re not looking at any specific area as yet.”
There have been a number of meetings with stakeholders and in this round of work, media is not included.
What will come of those session, is a report with recommendations, which could include that VAT.
Hon Saunders said since Government commissioned the study, it will be up to “us, if and how we want to move forward with the recommendations. All we’ve done at this moment, he shared, is commissioned a study of our tax system. Right now we’ve taken no position on taxes.”
In a statement from the Turks and Caicos Islands Chamber of Commerce on April 7, there was focus on the possibility of introducing a broad based tax, like VAT informed Daniel Le Vin, 1st Vice President of the Chamber.
The Chamber makes it clear that it does not support the introduction of VAT. No broad based tax is supported by the Chamber of Commerce including income or corporation tax. In fact, the Chamber explains VAT would be “bad” for the TCI because it would be so very costly and complex to administer; the Chamber feels it would be a negative blow to small business because of what it would take to administer a VAT tax.
The Chamber also expressed that not at all is a the TCI a low tax jurisdiction. Stating this: “the tax burden is relatively high within a regime which works reasonably well…”
The suggestion by the Chamber, improve on the efficiencies of the current systems.
Another suggestion, since almost everything is imported, continue the customs duty and raise taxes on other areas like accommodation tax and stamp duty.
Supplied to the IMF team by the Chamber of Commerce said LeVin that: “The Chamber cautions against any significant changes which might increase the overall tax burden and cost of living or doing business in the TCI or create administrative difficulties.”
Turks and Caicos, December 7, 2024 – “Homicide detectives of the Royal Turks and Caicos Islands Police Force are actively investigating a homicide in Five Cays, Providenciales.
Initial reports indicate that shortly after 10 pm yesterday (December 06th), the Police Control Room received several calls stating that
gunshots were being heard in the area of Sandy Land.
RT&CIPF officers responded to the given location and found the lifeless body of a male with what appeared to be gunshot wounds about the body. The victim was later identified as NEIL RIGBY, 52, of Five Cays.
The RT&CIPF offers condolences to Mr. Rigby’s relatives and friends.
The RT&CIPF is asking anyone with information that may help in this investigation to contact the closest police station, 911, the Serious Crime Unit at 231-1842, or Crime Stoppers at 1-800-8477 to provide any information anonymously.
Additionally, individuals are encouraged to download the Crime Stoppers P3 app.
Statement from the Minister of Immigration
Government of the Turks and Caicos Islands
Turks and Caicos, December 5, 2024 – The Government of the Turks and Caicos Islands categorically states that we will not, under any circumstances, accept deportees from the United States or any other nation who are not citizens of Turks and Caicos. Our country’s immigration policies are clear and firmly rooted in the principles of sovereignty, the protection of our borders, and the welfare of our people.
Turks and Caicos, like all nations, has the sovereign right to determine who may reside within its borders. The unilateral imposition of third-country deportation policies, such as those reportedly under consideration by the incoming Trump administration, is fundamentally at odds
with international norms and legal standards.
We are deeply concerned about any suggestion of displacing individuals to countries with which they have no connection. Such policies disregard the cultural, social, and economic implications for receiving countries and the humanitarian impact on the individuals affected.
We remind all stakeholders that Turks and Caicos is already facing significant challenges managing irregular migration and the accompanying strain on our resources. We will not permit external policies to exacerbate these challenges, nor undermine or dictate our national security.
Our Government remains committed to maintaining strong diplomatic relations with the United States and our other international partners. However, we are steadfast in our commitment to protecting the interests of the Turks and Caicos Islands and upholding the integrity of our immigration system.
To be clear: The Turks and Caicos Islands will not participate in any program that seeks to forcibly relocate individuals here against their will, or ours.
Turks and Caicos, December 03rd, 2024 – The Royal Turks and Caicos Islands Police Force is actively investigating incidents involving an attempted robbery and a reported armed robbery in Providenciales on November 30 and December 02, 2024.
Incident 1: Attempted Robbery at Service Station
Shortly after midnight on November 30, 2024, officers responded to a report of an attempted robbery at a Service Station on Leeward Highway. Based on preliminary reports, a lone male approached the premises from a black Honda Fit vehicle. The suspect, armed with a firearm,
struck an employee, causing a wound. The suspect fled in the car. At the same time, the employee was transported to the Cheshire Hall Medical Centre, where he received treatment for his injuries.
Incident 2: Armed Robbery at Eatery
On November 30, 2024, at approximately 6:57 p.m., the police received a report of an armed robbery at an eating establishment in Blue Hills. Two masked individuals, one armed with a firearm, entered the premises and robbed patrons. No injuries were reported, and the suspects fled the scene on foot in an unknown direction.
Incident 3: Robbery/Malicious Injuries to Property
On the evening of Monday, December 2, 2024, a male driver was proceeding along Walter Cox Drive when he stopped to drop off a passenger. While reversing, an unidentified male armed with a cinder block demanded the driver exit his vehicle. The driver complied and was robbed of personal belongings. The suspect proceeded to use the cinder block to shatter the rear passenger side window before fleeing the scene.
We urge anyone with information about these incidents to come forward.
Individuals can contact the Serious Crime Unit at (649)-232-6696 or report anonymously via Crime Stoppers at 1-800-8477.
Additionally, persons are asked to download the Crime Stoppers P3 app and provide information.
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