Beautiful Virgin Islands

Wednesday, Aug 27, 2025

TRC owes gov't $23M! Telecoms regulator has left millions uncollected over 13 years

TRC owes gov't $23M! Telecoms regulator has left millions uncollected over 13 years

Failing to submit royalties collected from the four local telecommunication providers in the past 13 years, the Telecommunications Regulatory Commission (TRC) now owes the BVI government approximately $23 million.

Speaking in the House of Assembly on Tuesday, Premier Andrew Fahie said the huge debt accumulated under the previous boards and management of the TRC.

He said the TRC collected $25,044,047.60 worth of royalties from the territory’s four telecom providers between 2007 and 2020. However, only about nine percent of that sum was submitted to the government.

“Under the provisions of the Act (Telecommunications Act 2006), the proceeds from the industry levy is supposed to be used by the TRC to fund its operational expenses. The surplus funds, including royalties, should have been paid to the government for deposit into the Consolidated Fund or as directed by the minister,” the Premier explained.

He, however, said nothing was handed over to government, “except for the $2 million that was collected this year and paid over to the government to be allocated towards public road-paving and associated equipment purchases and also towards the East End/Long Look Sewerage Project, along with $250,000 which was paid into the Consolidated Fund some years ago”.


$28 million in uncollected industry levy

The Premier also said the TRC was using the royalties collected to fund the operational expenses of the Commission.

He said there were no surplus monies left over because the Commission had failed to collect in excess of $28 million of industry levy from the telecom providers for more than a decade.

“I am advised [that] the cumulative sum of industry levy that should have been collected from 2007 to the present – for financial year 2006 coming forward annually – is $28,164,438.15,” Fahie stated.

“Of this sum, $4,249,009.12 was billed by the TRC for the current 2019-2020 period and the collection of these funds is underway,” he added.


Telecom providers failing to submit audited statements

Premier Fahie also noted that the TRC was not to be fully blamed for the non-collection of industry levy, as some of the telecom providers obstructed the procedure due to their failure to provide audited financial statements.

“I am advised that the Commission was unable to complete its accounts and have it certified because some licenced operators have not been submitting their audited financial statements to the Commission over the years so that the necessary calculations could be done,” he said.

However, the Finance Minister said the recently-installed TRC Board has indicated that they are seeking legal advice on how to proceed with the collection of the levies owed.

He also said that with the majority of the telecom operators’ licences scheduled to expire in 2022, the TRC is aiming to bring all operators into compliance with all aspects of their license before that date

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
Trump Called Viktor Orbán: "Why Are You Using the Veto"
×