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IMF hired by TCI Gov’t; VAT seems to be a top choice for new tax

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By Denadrea Hamilton

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#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.”

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ELECTRICITY BILL SHOCKER: PELICAN ENERGY WARNED GOV’T

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TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response

PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.

Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.

That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.

Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.

He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.

Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.

Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.

Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.

Saunders did not disclose the programme’s total cost.

His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?

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Bahamas News

More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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Health

47,459 MEASLES CASES, 44 DEATHS ACROSS AMERICAS  

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WASHINGTON, D.C. — The Americas has recorded 47,459 confirmed measles cases and 44 deaths in 2026, the region’s highest case count in 22 years, prompting the Pan American Health Organization (PAHO) to urge stronger vaccination, surveillance and rapid outbreak response.

As of July 18, cases were already more than triple the 15,011 recorded during all of 2025. Guatemala, Mexico, the United States and Peru account for 95% of confirmed cases. Guatemala leads with 30,371 cases and 26 deaths, followed by Mexico with 12,255 cases and 17 deaths.

PAHO classifies the regional public health risk as very high, citing active outbreaks, immunity gaps, international travel and populations with inadequate vaccination coverage.

The organization says prevention starts with vaccination. Countries are being urged to achieve and maintain at least 95% coverage with two doses of measles-containing vaccine, particularly protecting children and under-vaccinated communities.

Measles spreads through the air when an infected person breathes, coughs or sneezes. Symptoms can include fever, cough, runny nose, red eyes and a rash.

PAHO is urging health authorities to detect suspected cases early and respond rapidly to stop transmission. Unvaccinated and under-vaccinated people, young children and communities with limited healthcare access face increased risk of severe illness and death.

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