PUBLIC NOTICE: Temporary closure of the Revenue Department

PUBLIC NOTICE

Temporary closure of the Revenue Department

The Revenue Department located at Butterfield Square, Downtown Providenciales will be closed between the hours of 10:30 am until 12:30 pm on Wednesday, November 8th 2017 to facilitate a Staff meeting. 

Subsequently Grand Turk office will be closed on Friday, November 10th from 9:30 am until 11:30 am to facilitate a Staff meeting.

We apologize for any inconveniences this may have caused and may be further contacted through the enclosed mediums for questions.

Revenue Department

Butterfield Square                                                                                                                                Wilma House

Providenciales                                                                                                                                        Grand Turk

Tel: 649-338-5234                                                                                                                                  Tel: 649-338-2069

Fax: 649-941-5099                                                                                                                                 Fax: 649-946-2686

 

Website: http://gov.tc/revenue

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Facebook: TCIRevenuedepartment

Instagram: @tcirevenuedepartment

Twitter: @tcird

 

END

TCI MAINTAINS IT’S SOVERIEGN RATING POST HURRICANE IRMA AND MARIE

“Most rated Caribbean sovereigns will likely weather the effects of a bad hurricane season”, advises the global rating agency Standard and Poor’s in their bulletin issued on 30th October 2017.

 

In the bulletin (see attached) S & P outlines that out of their rated Caribbean island sovereigns, most escaped unscathed.

 

However, several were not so lucky; some even were affected twice. These included:

 

• Turks and Caicos Islands (TCI; BBB+/Positive/A-2)

• Montserrat (BBB-/Stable/A-3)

• The Bahamas (BB+/Stable/B)

• Dominican Republic (BB-/Stable/B).

 

Currently the TCI maintains a BBB+ sovereign rating, which is a strong factor in attracting foreign direct investment to TCI and building confidence amongst its existing business community.

 

In the recently issued bulletin S & P advises that TCI has a strong fiscal position which will allow the territory to absorb the cost of the hurricanes without significantly affecting the credit quality.  S& P further stated that as a result of TCI not having any outstanding commercial bonds in the market, and its gross debt being less than 3.4% of GDP, they were of the opinion, these factors provide TCI with ample flexibility to respond adequately to the hurricane's aftermath.

 

END

 

 

PREMIER SIGNS NEW CUSTOMS ORDER

Turks & Caicos Islands Premier Hon. Sharlene Robinson on, November 1, 2017 signed The Customs (Import Duty Exemption) (No. 2) Order. The effective date of the Order is the 1st of November 2017 and will expire on the 31st of December 2017.

Persons who have suffered loss during the passage of Hurricanes Irma and Maria on the provision of proof of loss and damage, ownership and long established ties to the property and value of goods to be imported will be able to apply for an exemption from payment of duty.

The Order contains a list of the items exempted: Sofa, love seat, accent chair, cocktail table, sofa table, end table, bed frame, bed headboard, bed footboard, dining room tables, dining room chairs, mattresses, box springs, dresser drawer and mirror, night stands, chest of drawers, televisions (one per importer/declarant), refrigerator, stove, microwave, ceiling fans.

Individual applications to the Minister of Finance will no longer be necessary. All evidence to be supplied, must be supplied to the Collector of Customs.

"I know that this is a welcomed initiative and as we continue to monitor our financial position, we will make decisions that we deem prudent and in the best interest of our people," said Premier Robinson.

ENDS