Government Backs Away From Business Licence Fee Hikes

Existing 2015 rates remain in effect following public pushback at town hall meeting

Turks and Caicos, May 12, 2026 – Businesses across the Turks and Caicos Islands now have until May 31, 2026, to complete payment of their business licence fees under the existing 2015 fee structure, after the government quietly stepped back from proposed increases which had triggered strong public concern earlier this year.

The clarification came in a March 30 notice issued by the Inland Revenue Department following a government town hall meeting held in Providenciales, where residents and business owners sharply questioned the scale of proposed fee hikes, particularly for smaller Family Island operators.

In the notice announcing the commencement of the 2026 business licence renewal period, government confirmed:

“The existing fee structure implemented in March 2015 will remain in effect.”

Businesses renewing during the April 1 to April 30 application period will therefore continue paying under the current rate schedule while government reviews broader proposed amendments to the licensing framework.

Under the renewal arrangement, businesses are expected to submit applications during April, with payments due by May 31.

The issue had become increasingly contentious after details surfaced of substantial proposed increases affecting several business categories.

During the Providenciales town hall meeting, North Caicos businesswoman Rosemary Jolly publicly challenged the proposed hikes, arguing they would disproportionately impact businesses in North and Middle Caicos where economic growth and infrastructure continue to lag behind Providenciales.

Jolly highlighted examples including:

• property management fees proposed to rise from $750 to $1,000,
• small auto dealership fees jumping from $1,350 to $5,000,
• and car wash licence fees increasing from $125 to $500.

At the same meeting, Premier and Finance Minister Charles Washington Misick defended the broader review process, noting that the business licence framework had not undergone comprehensive revision since 2015 and arguing the changes were intended to modernize the system and better align fees with current economic realities.

The Premier also pointed to the absence of direct taxation in the Turks and Caicos Islands, describing business licence fees as one of government’s primary mechanisms for collecting public revenue from commercial activity.

Still, the latest Inland Revenue Department notice strongly suggests stakeholder concerns influenced government’s approach.

“The Government continues to consider stakeholder feedback and is working on amendments to the Business Licensing framework,” the March 30 statement said.

Further details on future changes are expected following completion of the legislative process.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.