The assertion that the announced closure dates of Beaches Turks and Caicos
However, in 2017 the Tax Department, in disregard of the prevailing legally binding agreements in writing, unilaterally and unlawfully imposed additional taxes and penalties at a preposterously crippling rate of 10% per month, compounded, which translates to more than 213% per annum. Let us be clear- the company invested in the TCI on the strength and assurance given by the Government in legally binding agreements.
The Government has acknowledged the injustice and has undertaken to remedy the egregious wrong but, in spite of assurances has been unable to do so for over two (2) years. While not a comfortable position, Beaches TCI was forced to take legal action against the TCI Government for breaches of the binding agreements.
We are heartened by the Premier’s statement that this very serious matter is engaging the attention of Cabinet, which we are hopeful, will protect our guaranteed written rights as was agreed.