Turks & Caicos Islands
TCI Finance Ministry Restructures Business Licensing Regime
By TCI Government Press Office
Mar 13, 2014 - 1:23:34 PM

TURKS & CAICOS ISLANDS - The Ministry of Finance, Trade and Investment has announced an extension of all current business licences to June 30, 2014 to facilitate the review of the government’s Business Licensing Administration.

As part of its Revenue Rationalisation Strategy, the Turks and Caicos Government is reviewing the Business Licensing Administration with a view to expanding the number of categories to ensure that businesses are registered in the appropriate categories and paying the fees applicable to the category in which they are operating. Currently almost 40 percent of businesses are licensed under the miscellaneous category.

As part of the process, revisions will be made to the fee structure and the reserve category and a new restricted category created in keeping with Government Policy to empower TC Islanders and support small business start-up.

To facilitate the smooth transition, all licences issued between April 1st, 2013 and March 31, 2014 will be given an extension of their validity until June 30, 2014. The revised categories and fees, where applicable, will take effect on July 1, 2014 and annually thereafter on July1.

A notice of the new categories and fees will be published by May 1st, 2014 to give business owners ample time to inform themselves of the proposed changes.

Licence holders are also being reminded that renewals will not be considered unless all arrears associated with the existing licences are cleared.  Additionally, business owners should familiarise themselves with all the requirements of the Business Licensing Ordinance as well as those of other legislation such as Planning, Environmental Health and Immigration which could impact the granting of a Business Licence.

For further information, please contact any of the numbers listed below.

Revenue Department (Taxpayer Services)
Town Centre Mall, Providenciales
Fax: 941-8649
Hibiscus Square,  Grand Turk
Fax: 946-2686
Phone number: 946-2801

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