Turks and Caicos

House of Lords written question – answered on 5th July 2012.

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Photo of Lord Jones of Cheltenham Lord Jones of Cheltenham Liberal Democrat

To ask Her Majesty's Government what consultation they have undertaken on the proposal to introduce value added tax in the Turks and Caicos Islands; what has been the response to that consultation; and what further consultation is planned.

Photo of Lord Howell of Guildford Lord Howell of Guildford Minister of State (Foreign and Commonwealth Office) (International Energy Policy)

The introduction of value added tax (VAT) is a decision for the Turks and Caicos Islands Government. A decision to introduce VAT was announced in the 2011-12 budget statement. This decision was based on thorough research and an assessment that VAT would offer a simpler, equitable and stable revenue source. A Green Paper on VAT implementation was published in May and consultation is underway on this. VAT will be implemented from 1 April 2013.

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