Turks and Caicos Islands
Value-added tax (VAT)
There is no VAT imposed in the Turks and Caicos Islands.
Imports are subject to a range of customs duties depending on the nature of the goods imported and are also subject to Customs Processing Fees.
Customs duties are payable on import unless a business has a registered bonded warehouse.
There are no excise taxes in the Turks and Caicos Islands.
There are no property taxes in the Turks and Caicos Islands (see comments below on stamp taxes/duties).
See comments below on stamp taxes/duties.
Stamp taxes/duties are charged on the transfer of ownership of properties by individuals/companies and on the transfer of shares in locally registered companies that hold land. In addition, stamp duties are charged on the registration of liens over assets registered as part of a loan agreement, etc.
Indirect taxes are normally declared on a monthly basis.
There are no payroll taxes in the Turks and Caicos Islands (see comments below on social security and national health contributions).
Social security and national heath contributions
Social security and national health contributions are payable by employees, employers, and self-employed individuals at a range of rates that are varied from time to time.
Minor annual taxes are payable (e.g. for vehicle registration fees).
Other non-income taxes
Taxes are payable by the owners and collected by the government on property rentals and restaurant/bar sales.