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Press Release from the Governor of Turks and Caicos Islands about VAT

Press Release From the Governor’s Office Re-Decision Not To Implement VAT

The UK Government has agreed that VAT will not be implemented in the TCI at this time. The TCI Government and opposition have clearly stated their opposition to the implementation of VAT.
It remains Her Majesty’s Government’s (HMG) view that VAT would provide a more stable, fairer and broader based system of revenue for TCI than that which is currently in place.
The Government of TCI has a responsibility to ensure sound finances in the Territory. This includes constraining expenditure within the legally binding fiscal framework which is now in place and being able to refinance its debts in 2016 without a further UK Government loan guarantee.
The TCI Government will face more difficult choices to ensure stable and sustainable revenues and expenditures in the absence of VAT.
HMG is clear that we will not accept a return to the dire financial situation in TCI which prevailed before the Interim Administration.
FCO Minister, Mark Simmonds, issued a letter to TCI Premier the Hon Dr Rufus Ewing yesterday evening, Mon, 25 Feb 2013. This was also sent to the Leader of the Official Opposition in the TCI simultaneously. This was issued in response a letter from the TCI Premier dated 29 January 2013 which raised a number of concerns about the proposed implementation of VAT in the TCI from 1 April 2013.

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By Cem Kınay

With many important hotel investments and international awards, Dr. Cem Kinay is one of the world's most important names in the tourism industry.

As the founder of the Austrian, Vienna-based Gulet Turistik(1987) and Magic Life Hotels(1990) chain, he created the "All Inclusive" hotel experience for European tourists.

He managed the Magic Life Hotels chain, which has a total of 20,000 beds and 23 hotels in Austria, Turkey, Greece, Spain, Egypt, Tunisia and Bulgaria, with more than 8000 teammates, as the fastest growing and most successful hotel concept at that time.

Millions of guests were hosted during 15 years, in Sarigerme, Marmaris, Bodrum, Belek, Side and Kemer in Turkey, Kos, Crete, Corfu and Rhodes Islands in Greece, Arlberg in Austria, Hamamet in Tunisia, Mahdia, Djerba, Egypt Sharm El Sheikh and Nile.

In 2021, the establishment of the Anatolity Sustainable Culture and Tourism Foundation was started with Elif Dağdeviren.

In 2020 he did consultancy for construction of u

In 2019 he was founding board member for Turkey Tourism Promotion and Development Agency .

In January 2019 his book “Be Human.Be Smart “was published by Destek Publications.

In 2018 his first book, “Akıllı Ol.İnsan Ol” was published by Destek Yayınları.

2017 Cem KINAY founded Cem KINAY XPD Consulting, providing investment, concept design and digital transformation consultancy for domestic and foreign investors.

In 2014/2015 he was GALATASARAY SPORTS CLUB Board Member.

In 2012 he moved to Istanbul.

In 2009 he had to leave the island after the coup in the Turks and Caicos Islands and the seizure of power and projects by the British government.

In 2006, he was honored by the President of Austria with important and valuable awards such as the "Austrian State Order".

Under the management of Cem Kinay, Gulet Turistik and Magic Life Hotels chain won more than 50 valuable awards from important organizations.

2005-2009 As the founder of The O Property Collection, he made the investments and real estate development of the Mandarin Oriental Dellis Cay Hotel and Bulgari Hotel in the Turks and Caicos. In that years he worked with the world's most magnificent architects like Zaha Hadid, Piero Lissoni, Antonio Citterio, David Chipperfield, Shigeru Ban, Kengo Kuma, Carl Ettensperger and Chad Oppenheim.

In 2004, he sold his shares in the Magic Life Hotels chain to the German TUI group, he moved to Miami, lived in America and Turks and Caicos Islands until 2012.

2003 Opening of the first “All Inclusive” Magic Life hotel on the Spanish island of Fuerteventura.

2002 Opening of the first “All Inclusive” Magic Life hotel in Sharm El Sheikh, Egypt.

2001 Opening of the first “All Inclusive” Magic Life Nile Shiphotel on the Nile river in Egypt.

2001 Opening of the first “All Inclusive” Magic Life hotel in Varna, Bulgaria.

2001 the German TUI joined Magic Life hotel chain.

1998 The first Magic Life Jet was designed and started to fly in cooperation with Austrian Airlines.

1997 Opening of the first "All Inclusive" Magic Life hotel in Hammamet, Tunisia.

In 1997, he was awarded as "Man of the Year" by Austria's important economy magazine "Trend Magazine".

In 1996, he was awarded as the "Tourism Manager of the Year" by the Hotel and Tourism magazine "Traveller".

In 1996 Opening of the first "All Inclusive" Magic Life hotel on the Greek island Kos.

1995/1996 Opening of the first “All Inclusive” Magic Life Ski Hotel in the Arlberg / Austria.

In 1994 The first "All Inclusive" Magic Life Yacht gulet sailed in Bodrum.

In 1990 He founded with his partner Oğuz Serim the Magic Life Hotels Chain and opened the first "All Inclusive" hotel, Magic Life Sarigerme.

1977-1984 Vienna University Faculty of Medicine

1969-1977 Istanbul Austrian High School

1969 he graduated from Ağrı Alpaslan Primary School.

1958-1969 he lived in Aşkale/Erzurum, Diyarbakır and Ağrı.

He was born in 1958 in Istanbul Bakirköy.

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