Category Archives: Tax Shelters

The report reveals role of BVI and other UK overseas territories in global tax dodging

According to the report published by the Tax Justice Network, the UK territories of the BVI, Cayman Islands and Bermuda are the ones to contribute the most to global tax avoidance, among all the tax havens, and Anguilla, Guernsey, Jersey … Continue reading

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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 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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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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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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New US Treasury Secretary asked for tax haven problem decision

The new nominee of Trump administration for Treasury Secretary, Steve Mnuchin, was asked by Senate about his intention to close down Caribbean tax havens. Members of the US Senate requested details of how it is expected to close the tax … Continue reading

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Pakistan requesting information from BVI and some other countries authorities

Finance Minister of Pakistan has requested the Federal Board of Revenue (FBR) to seek information in the Panama and Bahamas leaks. Pakistan will ask for information from the tax authorities of nine jurisdictions, including British Virgin Islands, the Bahamas, Jersey, … Continue reading

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BVI and other jurisdictions to lose money for the US

According to the article from Bloomberg Businessweek, by Jesse Drucker, the US is becoming the “leading tax and secrecy haven for rich foreigners”, as it remained one of a few countries not to have signed on to an international standards … Continue reading

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About 30 Korean companies and individuals suspected of tax evasion

Korea’s National Tax Service launched an investigation into 30 corporations and individuals suspecting them of tax evasion with the help of offshore tax havens. According to the tax authorities of the country, the targeted entities and individuals are said to … Continue reading

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