Taxes in the Turks and Caicos

The Turks and Caicos Islands are known as a tax-free jurisdiction. The following taxes are not collected in the Turks and Caicos Islands:

• No annual property tax;
• No personal income tax;
• No capital gains tax;
• No investment tax;
• No dividends tax;
• No corporate profit tax;
• No inheritance tax;
• No sales tax;
• No VAT.

The Turks and Caicos Islands primary revenue streams consist of the following taxes and fees:

• Accommodation tax – hotels and short-term rentals collect and remit 12%;
• Restaurant tax – restaurants collect and remit 12% and 10% service charge;
• Customs Import Duty is charged at various rates up to 37.5%;
• Customs Processing fees;
• Stamp duty – for the purchase of property at various rates up to 10%;
• Work permit fees;
• Fuel tax;
• Communications and Telecom taxes;
• Vehicle and Driver Licensing.