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Turks and Caicos Islands removed from the European Union list of Non-Cooperative Jurisdictions for Tax Purposes

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The Ministry of Finance, Investment & Trade is pleased to announce that on February 20th, 2024, the European Council Code of Conduct Group (“EU COCG”) removed the Turks and Caicos Islands (“TCI”) from the list of non-cooperative jurisdictions for tax purposes. This comes on the heels of the TCI in October 2022, being placed on its blacklist after noting several deficiencies in the enforcement of the TCI’s Economic Substance requirements and setting down “hard recommendations” to the jurisdiction to have these remedied.

Following this, the Turks & Caicos Islands Government and the Ministry of Finance made significant investments to remedy the recommendations made. Some of the actions undertaken by the Ministry of Finance included but was not limited to, the launching of the Economic Substance Portal, a comprehensive review of the legislation, training for industry stakeholders, production of comprehensive guidance notes, and an overall strengthening of the processes and procedures that were adopted by the Financial Transaction Information Exchange Unit (“FTIE”) who has been tasked with the administration of the Companies and Limited Partnerships (Economic Substance) Ordinance.

 The Ministry of Finance remains committed to strengthening its relationship with stakeholders domestically and internationally, providing a reporting mechanism that allows for the safe exchange of information and most importantly continuous investment in staff through training and development in the area of global tax evasion and information exchange.

 The jurisdiction accepts this removal as a step in the right direction. It remains the overall goal to continue to promote safe practices regarding fair and transparent taxation and to continue to improve our enforcement and compliance regime on Economic Substance.    

According to Hon. E. Jay Saunders, Deputy Premier and Minister of Finance, “This is a significant achievement by the Ministry of Finance and the Financial Transactions Information Exchange Dept. teams, specifically PS Harvey-Basden, DPS Nasiya Misick-Dickenson, and Ms. Shatelia L. Hall Greene. This outcome shows that they are world class. I want to assure our partner, the EU COCG, that this outcome is not a final step, and that we will continue to work with them to identify and address issues and loopholes that could lead to the erosion of the tax base of other jurisdictions.”

 The Ministry of Finance wishes to also take this opportunity to recognize the hard work of the Deputy Director, FTIE Mrs. Shatelia Hall- Greene and compliance officer Mr. Jordel Swan who worked assiduously on behalf of TCI in undertaking the necessary to have us removed from the blacklist. Their hard work and dedication to Country has not gone unrecognized.

 

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Orlando Mother Remanded for Bullet possession in Turks and Caicos

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Wilkie Arthur and Deandrea Hamilton 

Editorial staff

 

Remanded until July, but her attorney Leanna Brooks-Campbell is likely to make application for bail as the matter is now transfered to the Supreme Court.

American tourist from Orlando, Florida Shanita Shinee Grier, 45, who was arrested Monday, after two bullets were allegedly found in her baggage is the newest defendant facing the stiff penalties associated with breaching the Turks & Caicos Firearms Ordinance.

Grier was exiting TCI at the Providenciales International Airport with her daughter when the ammunition was detected, ending her Mother’s Day trip to the islands on an unexpectedly sour note.

Today, the chief magistrate remanded her to prison until July 5, 2024, however that can change.

She is facing charges of unlawful possession of ammunition; a crime punishable with a minimum 12 year sentence except in the case of a judge ruling that the case falls in the category of “exceptional.”

Then, and only then would it warrant a different sentence by a judge.

Support for the Floridian was impressive; Bryan Hagerich and Ryan Watson and their relatives filled the Magistrate’s Court on Old Airport Road informs Court Correspondent, Wilkie Arthur.

It was a show of patriotic solidarity on an issue which has elicited emotive views on all sides for Americans who are hoping to prove they were tourists on holiday and nothing more.

Bryan Hagerich of Pennsylvanian and Ryan Watson of Oklahoma also charged in two separate instances for being in possession of ammunition while wrapping up their TCI vacations in April and May respectively.

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InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group 

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Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.

Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.

Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.

Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.

Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.

Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.

The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.

Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”

He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”

Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”

The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion

Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.

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AMERICAN MOTHER AND DAUGHTER ALLEGEDLY ARRESTED FOR TWO BULLETS

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Deandrea Hamilton and Wilkie Arthur

Editorial Staff

 

A DAUGHTER reportedly brought her mother to the Turks and Caicos for Mother’s Day, and both were allegedly arrested, leaving the Turks and Caicos Islands today (Monday 13th, May,2024).

Officials say they were found with two rounds of ammunition in their luggage.

Police have confirmed the arrest to Magnetic Media after inquiries.

Turks & Caicos residents are already reacting to this latest report, “dumbfounded” by the mistake which keeps being repeated despite all of the high profile attention the matter has received in leading news organizations and the warning the US Embassy has issued. There is also the well publicized stance of the TCI Office of the Director of Public Prosecutions that these individuals must be punished according to the law.

In this newest case, the daughter was released, and the mother remains in police custody pending charge and court appearance later this week.

Police inform they will update soon.

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