Business persons could face stiff penalties for not regulating their businesses. That’s the word coming from the Revenue Control Unit on Thursday 11th April).
The Revenue Control Unit, Ministry of Finance, Trade and Tourism is reminding owners, managers and operators of businesses registered within the Turks and Caicos Islands, that those who fail to regularise their operations by month end, will face penalties.
The Unit has issued an appeal to all business operators and their agents noting that that as of April 10, 2013; they have 15 days in which to ensure that they are in good standing in relation to the payment of all fees, charges and arrears.
Following the expiration of the notice, TCIG will publish the names of those businesses that are not in good standing. In addition, individuals who fail to comply will have their Business Licenses suspended and revoked under Section 10 & 11 of the Business Licensing Ordinance.
Operators of businesses that have ceased operations are required under section 8 & 9 of the Business Licensing Ordinance, to give notice of changes in the particulars of the business, including the date the business ceased to operate. There are penalties for failing to adhere to these requirements which have been expressly provided in writing to all Licensee Holders.
The Unit advises that that this is their final appeal: Ensure that your Business License is current; otherwise TCIG will commence legal proceedings against all defaulters.
