JANUARY 19TH - JANUARY 26TH, 2013
VOLUME 9 - No. 2
$1.00
NO VAT DELAY Website: www.suntci.com
Email: sun@suntci.com
Tel: (649) 946-8542
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UNITED AGAINST VAT
Opposition Leader Sharlene Hon. Cartwright-Robinson (second right) and Minister of Finance Hon. Washington Misick (left) share a light moment while Premier Hon. Dr. Rufus Ewing (second left) and Deputy Opposition Leader Sean Astwood look on in amusement. Occasion was a joint press conference called by both sides of the political divide at the LIME Corporate Office on Thursday, January 17, to signal their unity against the impending imposition of Value Added Tax (VAT). VAT is to come on stream in the Turks and Caicos Islands come April 1. Prior to the staging of the news conference, the two political entities met with the Chamber of Commerce to notify them of their plan and to seek their support. By Vivian Tyson
The British Government has rejected calls to delay Value Added Tax (VAT) in the Turks and Caicos Islands, meaning that the controversial tax will be introduced in just over two months, on April 1st, 2013. Mark Simmonds, Minister in charge of the Foreign and Commonwealth Office, in a letter to Premier Dr. Rufus Ewing stated that after reviewing the various revenue strategies proposed
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by Ewing’s Progressive National Party (PNP) Government, he remained satisfied that VAT was TCI’s best bet for a steady revenue stream. The letter stated: “I think you have a choice between pressing ahead with the introduction of VAT from 1 April or making a clear commitment to introducing a credible alternative to VAT such as property or income tax. I should be clear that I believe that, at this stage, the best option for the Turks and Caicos Islands is to press ahead with the implementation of VAT. Tinkering with the
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current disparate and unsatisfactory mix of taxes would not address the underlying weaknesses and unfairness of these and would not offer a credible alternative to VAT. I have reflected on your proposal for a delay in the implementation of VAT. I judge that this would present significant risks. A delay at this stage would risk undermining the credibility of the Government’s commitment to
Michael Misick family responds to AGPage 7
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