Category Archives: BVI Government

BVI arm of Mossack Fonseca fined by BVI FSC

The British Virgin Islands Financial Services Commission has fined Mossack Fonseca & Co (BVI) Limited for US$440,000, the largest amount ever issued by the FSC, for the contravention of the Anti-Money Laundering and Terrorist Financing Code of Practice and BVI … Continue reading

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BVI faces pressure in relation to Panama leaks

The information about more than 100,000 secret firms registered in the British Virgin Islands, leaked from the Panamanian company Mossack Fonseca, which has local office, has a great impact on the jurisdiction. According to the Bloomberg agency, BVI is now … Continue reading

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BVI opposition raises objections against co-operation with PWC

Speaking on the debate of the Public Accounts Committee during the third session of the Second House of Assembly, Hon. Julian Frazer RA warned that the BVI Government should be cautious when dealing with international accounting company PriceWaterHouseCoopers. In his … Continue reading

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BVI FSC issued Advisory Warnings related to Ukraine Sanctions

The British Virgin Islands Financial Services Commission has issued advisory warnings, informing that the Ukraine (Sanctions) (Overseas Territories) Orders No. 2 and No. 3 2014 were ratified and extended to the BVI Territory. The first order, ratified on 28 March … Continue reading

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BVI Government makes efforts to consolidate national debt

According to BVI Financial Secretary Neil Smith, the Government is negotiating with banks with the purpose to consolidate the US$106 million national debt of the jurisdiction. Mr. Smith told the Standing Finance Committee that they want to reduce the territory’s … Continue reading

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BVI assessed by Global Forum as non-compliant with international standards

Last week, it was announced on the Global Forum on Transparency and Exchange of Information for Tax Purposes that the British Virgin Islands do not really meet international standards on tax transparency, along with some other offshore jurisdictions including Cyprus, … Continue reading

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France adds BVI to its tax blacklist

The jurisdictions of the British Virgin Islands and Bermuda, as well as Jersey, were blacklisted by France as uncooperative tax havens, according to the official gazette of the republic dated August 21. According to French legislation, the toughest rates are applied … Continue reading

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New BVI Premier accused by the Opposition of playing tricks with financial figures

Hon. Ralph T. O’Neal, Opposition Leader and former Premier of the British Virgin Islands, expressed his quite critical opinion on the Premier and Minister of Finance’s state of the Territory’s finances address. In his radio address, Hon. O’Neal pointed to … Continue reading

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Complaint filed by editors to the BVI governor and deputy governor over media ban

Publisher of BVI News Online Merrick Andrews is going to file formal complaint to the British Virgin Islands governor and deputy governor. The subject of the complaint is the ban of one of the publication’s reporters from attending magistrate court … Continue reading

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