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TCI Hotel and Restaurant Tax Changes Made

by Mike Godfrey, Lowtax.net, Washington
18 August, 2017

The Turks and Caicos Islands' parliament has approved an ordinance, which regulates taxes on hotels and imposes record-keeping requirements on hotels and restaurants.

The Hotel, Restaurant and Tourism (Taxation) (Amendment) Ordinance 2017, which came into effect on August 1, 2017, prohibits hotel proprietors from collecting tax on any deposits paid for rooms. Where tax has been collected on reservations that were cancelled, the proprietor must remit those monies to the government.

The Ordinance requires proprietors to keep a record of deposits received for reservations, as well as any cancellations. It is an offense, and penalties may be imposed, to collect tax on deposits, and for any failure by a proprietor to remit such tax to the territory government, the Government said.

The ordinance provides that restaurant owners must keep proper books and records and must allow inspections to determine whether they are operating and should be liable to tax.

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