Club Med seeking settlement on outstanding HRTT

By Deandrea Hamilton

Editor

#TurksandCaicos, July 25, 2022 – For the second time, a second major resort conglomerate is filing for an appeal in dispute of accumulated Hotel Restaurant and Tourism Tax; this time Club Med is seeking to negotiate a settlement which will have to be debated and have consensus in the House of Assembly before the Ministry of Finance can move ahead with a reduction in the balance on the books.

It was in December 2020 that Cabinet approved the settlement agreement with respect to the Hotel, Restaurant and Tourism Tax (HRTT) tax dispute with Royal Bay Resort & Villas Limited or Beaches Resort Turks and Caicos for submission to the House of Assembly.

Resolve in the controversial dispute ended a years’ long debate over the enormous, multi-million dollar bill.  At that time, the measure passed with strong support in the House of Assembly on both sides of the aisle to accept a lesser payment.

Cabinet on July 8, in relation to the Club Med matter, said it approved a course of action on the abandonment of a claim against Holiday Villages aka Club Med on disputed HRTT remittances and penalties.

Members agreed to a compromise and timeframe, informed minutes from the meeting.