Category Archives: Offshore secrecy

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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Capital Economics reports BVI companies allowing to avoid US$750mln tax

According to the new report by British company Capital Economics, the assets held offshore in the BVI jurisdiction are worth US$1.5 trillion, twice more than the 2010 statistics of the International Monetary Fund. Two thirds of the BVI-registered companies are … 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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British Overseas Territories still playing great role in moving dubious assets

According to investigation newly carried by advocacy group Global Witness, British Overseas Territories, including BVI, can play an important role in facilitating movement of suspect funds into the United States. With a hidden camera, investigators met with 13 NY law … Continue reading

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Report published on UK Overseas Territories

The assessment published by Christian Aid, Global Witness, and the Tax Justice Network and Transparency International UK, under the name “The UK’s Corruption Problem”, reveals the fact that the UK has not actually made significant improvements as to financial transparency … Continue reading

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U.S. Department of Justice continues offshore enforcement measures

The U.S. Department of Justice confirmed its commitment to continue offshore enforcement efforts, during recently held tax conference. The senior Justice Department official mentioned enforcement announcements concerning British Virgin Islands, India, Israel, Liechtenstein, Panama and Belize. The official also commented … Continue reading

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BVI remains blacklisted by France, Jersey and Bermuda removed

According to French Finance Minister, the so-called “black list” of uncooperative states has been admitted as effective. It has resulted in Jersey and Bermuda cooperating fully with France, and being removed from the “black list” in accordance with a decree … Continue reading

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Commission Published CFATF Warning on Belize and Guyana

The British Virgin Islands Financial Services Commission has published on its home page Public Statement No. 5 of 2013, informing that on 30 May, 2013, the Caribbean Financial Action Task Force had identified jurisdictions in the Caribbean region that have … Continue reading

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ICIJ continues investigation and releases Offshore Leaks Database

The International Consortium of Investigative Journalists (ICIJ), which started in April with the report named “Secrecy for Sale: Inside the Global Offshore Money Maze”, revealing information on more than 120,000 offshore companies and trusts and about 130,000 individuals and agents … Continue reading

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BVI-owned company to purchase large wood industry enterprise

The shares of one of the leading wood industry enterprises in Latvia – joint-stock company Latvijas Finieris – soon to be sold. In August 2011, some investors from Netherlands informed about their plans to invest LVL 50 million in the … Continue reading

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