TURKS & CAICOS Law and Practice Contributed by: Oliver Chapman and Chris Smith, Griffiths and Partners
8. Tax 8.1 VAT and Sales Tax
7.5 Additional Forms of Security to Guarantee a Contractor’s Performance See 7.1 Common Structures Used to Price Construction Projects . 7.6 Liens or Encumbrances in the Event of Non-payment See 7.1 Common Structures Used to Price Construction Projects . 7.7 Requirements Before Use or Inhabitation Certificates of occupancy must be obtained from the Planning Department before any new buildings are occupied.
VAT is not applicable in the Islands. 8.2 Mitigation of Tax Liability
There are no commonly used methods employed to mitigate stamp duty on large real estate port - folio purchases. 8.3 Municipal Taxes No municipal taxes are paid on the occupation of business premises. 8.4 Income Tax Withholding for Foreign Investors Income and capital gains are not directly taxed in the Islands. 8.5 Tax Benefits As mentioned in 8.4 Income Tax Withholding for Foreign Investors , income and capital gains are not directly taxed in the Islands.
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