Category Archives: British Virgin Islands

BVI among major money laundering centres listed in US report

The latest US International Narcotics Control Strategy Report, in its part dedicated to money laundering, put the British Virgin Islands on the list of “Major Money Laundering Jurisdictions” for the year 2018. Among other territories listed there were all major … Continue reading

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BVI elections: official observers concerned about campaign financing

BVI Governor Augustus Jaspert is planning to raise concerns of campaign financing during the 2019 General Elections, saying that campaign financing laws would limit the risk of corruption. In the preliminary report of the team of international and independent officials, … Continue reading

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Caribbean Development Bank conducts assessment of BVI RDA in relation to US$65mln loan

The Caribbean Development Bank (CDB) is making the assessment of whether the Recovery and Development Agency (RDA) is capable of managing funds from US$65mln loan given to the BVI for reconstruction and rehabilitation purposes. During CDB’s annual media conference last … Continue reading

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BVI among jurisdictions blacklisted by the Dutch Government

In the end of December 2018, the Dutch Government published a list of 21 low-tax jurisdictions which have corporate tax rate of less than 9 per cent. The Government will implement new anti-tax avoidance measures for the companies having business … Continue reading

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BVI postpones trade mission to Africa to focus on financial services

The proposed BVI trade mission to Africa which was planned to be held in November, has been postponed until the beginning of the next year. BVI premier and minister of finance, Dr Orlando Smith, who will be leading the delegation, … Continue reading

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Dutch Government to include BVI in the list of low-tax jurisdictions

The government of Netherlands has started series of consultations, planning to review country’s tax treaty policy and make a list of low-tax jurisdictions to apply enforced incoming controlled foreign company (CFC) rules. The CFC rule will be introduced by Netherlands … Continue reading

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UK accepts amendment forcing BOTs to make public registers of beneficial owners

The amendment to the Sanctions and Anti-Money Laundering Bill, which was strongly opposed by the Organisation of Eastern Caribbean States (OECS), still was accepted by the UK government. According to the new provisions to the legislation, British Overseas Territories will … Continue reading

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17 jurisdictions blacklisted by EU, BVI receiving temporary pass

The EU has released blacklist of 17 countries which are said to be tax havens not doing enough to cope with offshore avoidance schemes. Among these countries there are the United Arab Emirates, Bahrain, Tunisia, Panama, South Korea, Macau, Barbados, … Continue reading

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BVI among countries named in new ‘Paradise Papers’ leak

In the end of last week the US-based International Consortium of Investigative Journalists (ICIJ), which released Panama Papers last year, made public the Paradise Papers, a leak containing over 13 million documents being sifted through by journalists in more than … Continue reading

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UK Government investigates cases of possible tax evasion by landlords

Transparency International UK has published a report informing that London properties are being purchased anonymously through companies. The organisation investigated the cases, and found that more than third of properties sold in a new Kensington and Chelsea development areas were … Continue reading

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