Times of the Islands Fall 2021

Taxes
There are currently no direct taxes on either income
or capital for individuals or companies. There are no
exchange controls. Indirect taxation comprises customs
duties and fees, stamp duty, taxes on accommodations,
restaurants, vehicle rentals, other services and gasoline,
as well as business license fees and departure taxes.
Economy
Historically, TCI’s economy relied on the export of salt.
Currently, tourism, the offshore finance industry and fishing
generate the most private sector income. The Islands’
main exports are lobster and conch. Practically all consumer
goods and foodstuffs are imported.
The Turks & Caicos Islands are recognised as an
important offshore financial centre, offering services
such as company formation, offshore insurance, banking,
trusts, limited partnerships and limited life companies.
The Financial Services Commission regulates the industry
and spearheads the development of offshore legislation.
People
Citizens of the Turks & Caicos Islands are termed
“Belongers” and are primarily descendants of African
slaves who were brought to the Islands to work in the
salt ponds and cotton plantations. The country’s large
expatriate population includes Canadians, Americans,
Brits and Europeans, along with Haitians, Jamaicans,
Dominicans, Bahamians, Indians and Filipinos.
Churches
Churches are the center of community life and there
are many faiths represented in the Islands including:
Adventist, Anglican, Assembly of God, Baha’i, Baptist,
Catholic, Church of God, Episcopal, Jehovah’s Witnesses,
Methodist and Pentecostal. Visitors are always welcome.
Pets
Incoming pets must have an import permit, veterinary
health certificate, vaccination certificate and lab test
results to be submitted at the port of entry to obtain
clearance from the TCI Department of Agriculture, Animal
Health Services.
National symbols
The National Bird is the Brown pelican (Pelecanus occidentalis).
The National Plant is Island heather (Limonium
bahamense) found nowhere else in the world. The
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