Red Cross Visits Schools
The TCI Red Cross President & her team visited the schools in Grand Turk during their morning devotions.
The volunteers spoke to the students on the role of the Red Cross and how the organization was formed and how they could assist the organization.
They also highlighted hurricane preparedness and the importance of having a hurricane kit.
At the HJ Robinson High School, the Director spoke to the students as well as presented certificates to the students that assisted the TCI Red Cross during their High Tea And Fashion Show.
Building Materials Ltd also donated appliances to the home economics department.
The TCI Red Cross would like to thank all of the schools that participated in this event, Mr. Derek Been for the photograph and to all the volunteers that helped to make this day and the
organization a success. <
Appeal Court finds in Turks and Caicos Islands Government’s favour in Trade Winds case.
The Court of Appeal has today found in TCI Government’s favour, sending Trade Winds’ Court claim to be decided in arbitration.
The judgment overturns Judge Ramsey Hale’s earlier decision that the claim which had been brought against the Government ought to be heard by the Courts.
TCIG maintained that the proceedings should not be brought in Court, but in arbitration as the parties agreed.
TCIG was awarded 75% of their costs from Trade Winds.
“I am delighted that we have prevailed” said Attorney General Huw Shepheard.
“This is an excellent result, consistent with TCIG’s position in this litigation from the start. I am pleased that we have been granted most of our costs and I hope that they are paid swiftly so that we are not out of pocket in having to deal with this claim which we have said all along is without merit.”
Biden to meet with Caricom leaders
United States Vice President Joe Biden is due here for talks with Caribbean Community (Caricom) leaders as part of a three-nation tour in May.
"The vice-president's visit will take place during the week commencing May 27, 2013 when he will also visit Brazil and Colombia," a statement from the Trinidad and Tobago Government said yesterday.
A White House statement, meanwhile, said that during his visit to the three countries Biden "will meet with key leaders to discuss the full range of bilateral and regional issues.
"The vice-president looks forward to meeting with Prime Minister (Kamla) Persad-Bissessar as well as leaders of other Caribbean countries, whom Prime Minister Persad Bissessar has graciously offered to invite.
"This trip will be an important chance to discuss our collective efforts to promote economic growth and development, access to energy and our ongoing collaboration on citizen security," the White House statement said, adding that Biden will be accompanied by his wife Dr Jill Biden.
The Trinidad and Tobago Government statement said that Biden will hold bilateral talks with Prime Minister Persad Bissessar on collaboration in a number of areas including citizen security.
"This will be followed by a meeting with regional heads who have been invited by the prime minister to discuss issues such as the collective efforts to promote economic growth, energy interdependence, and development in the Caribbean," the statement added.
Prime Minister Persad Bissessar was quoted in the statement as saying that Biden's visit underscores "the continued strengthening of diplomatic relations between the United States and Trinidad and Tobago".
Earlier this week, Prime Minister Persad Bissessar shrugged off reports that relations between Washington and Port of Spain had deteriorated, telling a public meeting of her United National Congress (UNC) that Trinidad and Tobago and United States are true friends.
Washington has maintained a stony silence on requests from the government here on whether or not former national security minister Austin 'Jack' Warner was under investigation in the United States regarding his activities as an international football executive.
The US Embassy had also issued a statement regarding the non-extradition of two businessmen, Ish Galbaransingh and Steve Ferguson wanted in the United States on fraud charges relating to the Piarco International Airport development project.
US, UK & Australia share info to combat tax evasion
The tax administrations from the United States, Australia and the United Kingdom announced today a plan to share tax information involving a multitude of trusts and companies holding assets on behalf of residents in jurisdictions throughout the world.
A release from the IRS said the three nations have each acquired a substantial amount of data revealing extensive use of such entities organized in a number of jurisdictions including Singapore, the British Virgin Islands, Cayman Islands and the Cook Islands. The data contains both the identities of the individual owners of these entities, as well as the advisors who assisted in establishing the entity structure.
The IRS, Australian Tax Office and HM Revenue & Customs have been working together to analyze this data and have uncovered information that may be relevant to tax administrations of other jurisdictions. Thus, they have developed a plan for sharing the data, as well as their preliminary analysis, if requested by those other tax administrations.
“This is part of a wider effort by the IRS and other tax administrations to pursue international tax evasion,” said IRS Acting Commissioner Steven T. Miller. "Our cooperative work with the United Kingdom and Australia reflects a bigger goal of leaving no safe haven for people trying to illegally evade taxes.”
There is nothing illegal about holding assets through offshore entities. However, the IRS maintains that such offshore arrangements are often used to avoid or evade tax liabilities on income represented by the principal or on the income generated by the underlying assets. In addition, advisors may be subject to civil penalties or criminal prosecution for promoting such arrangements as a means to avoid or evade tax liability or circumvent information reporting requirements.
It is expected that this multilateral cooperation and coordinated effort will allow many countries to efficiently process this information and effectively enforce any laws that may have been broken. Increasingly, tax administrations are working together in this way to assist one another in identifying non-compliance with the tax laws.
The IRS warns US taxpayers holding assets through offshore entities are encouraged to review their tax obligations with respect to these holdings, seek professional advice if necessary, and to participate in the IRS Offshore Voluntary Disclosure Program where appropriate. Failure to do so may result in significant penalties and possibly criminal prosecution.
Good news for Olint investors
Positive news yesterday emerged out of the United States for persons who have lost money in Olint, operated by once-respected Jamaican currency trader David Smith.
The US Department of Justice, in a press release, advised persons who lost money in the scheme to make a claim for compensation.
"Persons who lost money from investments in companies operated by David A Smith, doing business as Overseas Locket International Corporation (OLINT), and related companies may be eligible to receive compensation from the United States Government," said the release.
Smith claimed that the companies were private investment clubs that traded in foreign currency on investors' behalf, and that members would expect high returns on their investment with low risk to their principal.
However, Smith, instead of investing the funds as promised, used them for personal gain and paid returns using new investors' money.
He was convicted in the US District Court for the Middle District of Florida in September 2011 on multiple counts of wire fraud and money laundering. As part of his criminal sentence, Smith was ordered to forfeit assets seized by federal authorities.
Yesterday, the US Justice Department said in its press release that "the forfeited funds will be returned to victims of the scheme through a process called remission. To be considered for remission, a Petition for Remission Form must be submitted to the Remission Administrator".
Smith, who operated the scheme in Jamaica, The Turks and Caicos Islands, and the United States is facing several lawsuits from those seeking compensation.
St.Monica's took a slice of Paradise in last night's softball match up.
Softball continued last night in the Churches' league in Providenciales.
Game 1 saw Monica's winning by a slim margin 15 to 14 over Paradise Baptist. Shervin Penn was the top scorer in last night game.
In Game 2 Prophecy Church defeated the Abundant Life Ministries Int'l 9 to 8 to take game 2 .
Games will continue on Thursday at 6:30 at the National Stadium with Abundant Life VS Jericho Baptist and Methodist Church taking on Bethany Church.
Rtc Sports will have highlights on those games on Thursday.
KB Homes demolished JamTurk Jaguar jump over Kischo.
The Turks and Caicos Islands Cricket Association T20 competition sponsored by HAB Group commenced on Saturday 4th May 2013 at the Down Town Ball Park Providenciales. The first match KB Homes against JamTurk.
Jamturk who won the toss and elected to Bat and were Bowled out for paltry 105 runs from 17.1 Overs the top scorers were Douglas Brown with 28 runs which consist of 5x4 and Daryl Williams with 10 runs.
Bowling for KB Homes Mark Butler captured 3 wickets for 30 runs from 4 overs and Paul McKenzie claimed 2 wickets for 17 runs from 4 overs.
In reply KB Homes reached 106 runs from 9.4 overs with Gareth Butler scoring and unbeaten in 52 runs and Paul Collis not out with 17 runs.
Bowling for Jamturk Calvin Aaron took 1 wicket for 12 runs for 1.4 overs and Delano Hall had 1 wicket for 22 runs from 2 overs.
The Man of the Match Gareth Butler
Meanwhile on Sunday as the competition continue at the same venue Kischo won the toss and asked Jaguars to take first strike who then were dismissed for a respectable 174 runs from 19.4 overs top scorers were Mark Austin with 47 runs which was decorated with 6x4 and 1x6 and Terrence Thomas with 32 runs comprised 5x4.
Bowling for Kischo Vinod Panikar bagged 3 wickets for 41 runs from 4 overs and Pawankumar took 3 wickets for 31 runs from 4 overs.
When Kishco batted they made a valiant effort but fell short and were Bowled out for 158 runs from 20 overs. Vasu Rao top scorer with 43 runs 5x4 and Pawankumar contributed 5x4 and 1x6 and Lyod Lynch added 20.
Bowling for Jaguars Wineck Caleb snatched 3 wickets from 28 runs from 4 overs and Terrence Thomas 1 wicket for 15 runs from 3 overs.
Man of the Match Terrence Thomas.
Provo Chamber Elects New Officers
The Providenciales Chamber of Commerce has elected new officers to head up the Commerce for 2013-2015
term:
The incoming President is CEO of Digicel Mr. E. Jay Saunders. Mr. Saunders told RTC News that " he would like to see growth in the Chambers membership this year.
He added that he would like to bring value within the chambers, he said who but for the Chambers, to lobby to the government on behalf of all our members no matter how big or small.
Mr.Jay Saunders thanked out going President Tina Fenimore for her role over the past years and welcomed the new executive and looks forward to working with them "
The new members for the Providenciales Chapter are:
President: E Jay Saunders
Vice President: Sean Astwood
Secretary/Treasurer: Wendy Hill
Advisor: Clayton Been
Advisor: Kenny Rigby
Advisor: Jamie McAnally
Advisor: Colin Hartwell
First Caribbean bank shuts down rumor of closing
RTC News understands from residents in the community that customers affiliated with the First Caribbean Bank were rushing yesterday to close their accounts in relations to rumor that was generated within the public domain.
Since that occurrence, CIBC FIRSTCARIBBEAN INTERNATIONAL BANK has released a statement to RTC News that reads:
'CIBC First Caribbean wishes to inform the public that we are not closing our offices in the Turks & Caicos Islands."
‘CIBC remains committed to maintaining our presence and operations in the TCI including the full and nonsupport of our clients. We refute rumors that suggest otherwise.'
Just last week, A federal court in California authorised the Internal Revenue Service (IRS) to serve a "John Doe" summons seeking information about US taxpayers who may hold offshore accounts in a Barbados-headquartered Caribbean bank.
The Department of Justice has identified the bank as the Canadian Imperial Bank of Commerce FirstCaribbean International Bank (FCIB). It said the order was signed by Senior District Judge Thelton E Henderson.
The Department of Justice said the IRS summons seeks records of FCIB's United States correspondent account at the San Francisco-based bank, Wells Fargo NA and that the summons will allow the IRS to identify US taxpayers who hold or held interests in financial accounts at FCIB and other financial institutions that used FCIB's Wells Fargo correspondent account.
The Department of Justice said that, based on a petition filed by the government, the court granted the IRS permission to serve what is known as a "John Doe" summons on Wells Fargo.
"The IRS uses 'John Doe' summonses to obtain information about possible violations of internal revenue laws by individuals whose identities are unknown," the statement said.
CIBC First Caribbean is a major Caribbean bank offering a full range of market-leading financial services and Investment Banking. It is the largest, regionally listed bank in the English-and Dutch speaking Caribbean. The bank has over 3,400 staff; 69 branches, 22 banking centres, and seven offices in 17 regional markets.
TCIG Cracks Down on the Illegal Occupancy of Crown Land
The Turks and Caicos Government has restarted its Informal Settlement Containment Programme which aims to minimise squatting on public lands. On Tuesday May 7, 2013 the Joint-Law Enforcement Committee resumed government’s initiative to curtail the illegal occupancy of Crown Land.
The team comprising of personnel from the Lands Division, Planning and Immigration Departments, the Department of Environment and Maritime Affairs, the Royal Turks and Caicos Islands Police Force, among others, took to the area of Five Cay known as the “Wells” and posted notices on structures that were built without proper authorisation.
Notices to cease construction were placed on structures that are unoccupied and currently under construction. Eviction notices were served on individuals occupying structures that were constructed after November 2009. The developments being targeted are all located on Crown Land.
The Programme dates back to November 2009 when the initial joined-up government informal settlement containment operation was mounted. At that time Government announced its zero-tolerance policy on squatting. Due to the economic downturn and the need to balance resources there was a decrease in the number of coordinated and consistent operations to tackle squatting in the last few years.
The Crown Land Ordinance prohibits any individuals without the lawful authority to use or occupy, to construct any building or structure, or abandon any vehicle on Crown Land.
Anyone found guilty of such an offence is liable upon summary conviction, to a fine of US$10,000 or to imprisonment for six months and upon conviction on indictment to a fine of US$50,000 or to imprisonment for two years.
The actions undertaken by the Government this week, is in accordance with the law and is in an effort to minimise and eventually eradicate the problem, Director of Crown Lands Mr. Leroy Charles noted.
“It is recognised that individuals will be displaced as a result of the exercise; however the intention is not to forcibly remove persons and leave them without a home, but to give them adequate notice to find an alternative,” Mr. Charles said.
He continued: “The vision is to cleanup the areas on which individuals are building without permission. You will also find that persons have built in low-lying areas and within these squatter communities the houses are stacked at just a couple of feet apart and, generally, with poor sanitation; it’s a hazard which must be rectified because in the case of a natural disaster the consequences could be catastrophic.”
Mr. Charles also stated that the Joint-Law Enforcement Committee will continue to carry out its activities with emphasis detecting emerging incidents through continuous monitoring. In addition, links are being forged with land owners to assist them in identifying the various options that are available to them to combat this problem on privately owned lands.