It is being reported that the controversial value added tax (VAT) will not be implemented in the Turks & Caicos on 1 April as had been planned. The decision by the United Kingdom (U.K.) was announced in a letter on 25 February by Mark Simmonds , the UK’s Minister for the Overseas Territories, and Alan Duncan, Minister of State for the Department for International Development. In the letter the ministers stated that “We (UK Government) accept TCIG’s proposal not to implement VAT on April 1st…I (Mark Simmonds) will instruct the Governor not to sign the Commencement Notice which would have brought in VAT on April 1, 2013. As the signing of this notice is what would have been required to introduce VAT, there is no need for further legislative action.”
My name is Rebekah and I am an attorney specializing in Indirect Taxes at Thomson Reuters. I earned my JD from Lewis & Clark Northwestern School of Law in Portland, Oregon and have focused exclusively on indirect tax law including sales/use, VAT and telecom for the past seven years. Currently I have the good fortune to work in the International Tax Research Department where my responsibilities include researching international tax laws and trends as well as managing our Indirect Tax Research Library. My position has provided me with a superb opportunity to see the world through the lens of its tax laws. Although tax is serious business, it can also be humorous at times and always interesting. I am excited to be able to share my knowledge and enthusiasm for transaction tax with the readers of this blog.