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TCI Governor Outlines Policies To Improve Tax Revenue

by Mike Godfrey, Tax-News.com, New York

16 January 2014

The governor of the Turks and Caicos Islands, Peter Beckingham, announced on January 09, 2014 that the government plans to take measures to boost tax revenue in order to fund social services.

He said that the government aims to broaden the tax base, lower the tax burden and increase tax compliance to ensure an "adequate and predictable revenue stream" to finance the provision of education, healthcare, jobs and social services, as well as to service the country's debt.

The governor made the comments in his Throne Speech during the opening of the Second Session of the Tenth Legislature at the House of Assembly in Grand Turk.

"The revitalization and growth of the economy and the creation of jobs has been the principal thrust for my Government as we seek to provide a decent standard of living for those who live and work in these Islands," he said.

The Finance Minister of TCI estimated in his 2013/14 budget statement that the country's revenue will reach USD214m.

TAGS: compliance | Finance | tax | tax compliance | budget | Turks and Caicos Islands | health care | education | services

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