About Us

The Ministry of Finance, Investment and Trade is primarily charged with the responsibility of effectively and efficiently managing the Government's financial resources, by providing proactive and sound policy analysis, and advice on all fiscal, economic and development initiatives.

It is charged with the responsibility of administering the statutes regarding public finances in an efficient and equitable manner that seeks to protect the country’s financial resources by ensuring revenue compliance and adherence to financial instructions regarding expenditure commitments. Thus the development and management of the Governments’ Budget forms a major aspect of the Ministry's functions as well.

The rebranded Ministry of Finance, Trade and Tourism also oversees all matters related to the promotion of Trade, Investment, Civil Aviation and Industry; facilitating the sustainable development of the Turks and Caicos Islands, by working to promote the development of a trade industry that is economically, culturally, socially and environmentally sustainable.h international standards.

Our Vision

To create a stable macroeconomic environment that fosters the growth and development of the Turks and Caicos Islands.

Our Mission

To oversee and carry out the implementation of the country’s economic and fiscal policies by providing strong financial leadership and sound professional advice on all aspects of financial management undertaken by the Government.

To facilitate the sustainable development of the TCI and improved welfare of residents by working in partnership with Investment, Trade and Aviation Authorities to continue to build and promote their industries to the highest standards.

Our Values and Objectives
  1. Openness/Transparency
    • To ensure that the Government finances are managed consistent with the principles of openness and transparency:
      • Whereby the budget is presented and debated in an open forum and the public is kept informed of the finances of the country through the publication of the annual budget and the publication of financial management reports on the government website and in the Gazette on a quarterly basis.
  1. Accountability
    • To ensure that the rules of Public Financial Management are adhered to and that value for money is achieved in transacting business on behalf of the Government;
    • To ensure that Accounting Officers/ Financial Managers act honestly, with integrity and professionalism in the management of the country’s finances.
  1. Fairness
    • To ensure that the Government contracts are awarded in an open and transparent manner that gives all interested and qualified parties equal access to the opportunity to work with or provide services to the Government through the use of the Procurement Board.
  1. Sustainability
    • To build sound fiscal, strategic and development policies that would facilitate the growth and development of the TCI and ensure the well-being of its people.
  1. Stellar Service
    • To provide the Government and the people of the Turks and Caicos with a stellar service that is able to cater to the demands of the ministries and departments and also the public through the:
    • Production and management of the country’s budget; revenue collection systems and expenditure management and payment systems.
    • Management of the airport and port throughout the islands.
    • Promotion of the islands locally and overseas.
Responsibilities

PROGRAMME

PROGRAMME OBJECTIVE

1. Policy, Planning & Administrative Support

To facilitate government’s economic, fiscal, social and development goals by providing strategic leadership, policy planning, research and advice in managing policies relating to finance, investment and trade by:

  • Undertaking research and policy development;
  • Monitoring and evaluating public expenditure for value and impact;
  • Building capacity within the technical and financial structures of government; and
  • Enhancing enablement and compliance through the application of the relevant acts, regulations, governance circulars and internal policies.

2. Budget Policy & Management

To provide timely and high quality economic and fiscal policy analysis and advice to support Government to responsibly manage public finances consistent with its economic and social development goals.

3. Strategic Policy & Planning

To develop macro-economic and fiscal forecasts, to co-ordinate and facilitate the timely implementation of the Public Sector Investment Plan (PSIP), and to ensure that statistical information is disseminated in a timely and accurate manner to assist public and private sector management and decision making.

4. Customs Services

To collect and protect customs duties, protect national borders and facilitate trade.

5. Government Financial Management Services

To provide timely and accurate financial information for decision-making, and maintain quality service and financial controls, process timely payments and to ensure transparency and accountability in the management and use of public finances.

6. Inland Revenue Services

Ensure efficient, effective and timely collection of taxes in accordance with the relevant tax legislations

7. Central Information Technology Services

Maintain and support existing systems in TCIG, and to promote the integration of technology to replace manual processes that exist.

8. Investment Services

To develop economic policies and a business environment that will prioritize business retention activities, attract FDI into virtually all the sectors of the economy and enhance SME participation within the TCI.

9. Financial Transactions Information Exchange

To effectively exchange tax related information between the Turks and Caicos Islands and its Treaty Partners through a cadre of technical officers in accordance with agreed standards, to combat tax evasion and improve TCI image with our international tax partners and regulatory organizations.
Our Priorities

We will:

  1. Support sustainable economic growth and fiscal stability while continuing reforms of the financial system
  2. Promote an equitable, efficient and effective revenue system
  3. Improve the accessibility to government services through e-government technology
  4. Foster an environment that is conducive to business development, innovation and domestic and international investment
  5. Strengthen transparency, accountability and the efficient and effective management of resources
Our Accountability

We will know we have achieved our priorities when:

  1. There is a steady positive outturn in GDP growth, lower unemployment and a robust financial system that leads to an increase in the living standards and economic well-being of residents.
  2. There is a high level of public acceptance of the tax system, the revenue system is sufficient to meet expenditure needs, and taxpayers meet their obligations in full and on time.
  3. A national e-government strategy is implemented and majority of relevant government services are accessed online.
  4. There is a steady increase in the number of sustainable new start-up businesses and growth of existing businesses with subsequent improved business and employment opportunities for belongers.
  5. There is a culture of regular reporting of program performance to achieve value for money and the country has unqualified audit reports consistent wit
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