Monthly Archives: March 2013

Restrictions imposed on BVI company in connection with TeliaSonera case

Swedish telecommunications company Telia Sonera has won the case in the BVI court concerning the dispute over the ownership of Turkcell. By decision of the court, restrictions were imposed on locally-registered entities through which Turkcell shareholder Cukurova Holding controls the … Continue reading

Posted in BVI Courts, Court decisions, Litigation | Leave a comment

BVI –registered firm accused of supplying poor quality medicines

Last week, the Guardian published the results of investigation made by the parliamentary commission on the UK pharmaceutical company, registered in the British Virgin Islands. The commission claimed that the company named Rotapharm Ltd. has supplied medicines of poor quality … Continue reading

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Microsoft can pay Denmark $1 bn in taxes for Navision deal

According to a report by Danish media, the government of Denmark could ask Microsoft Corporation to pay up to US$1 billion of taxes from the deal of Navision, an Irish company partly owned by Bermuda and British Virgin Islands-registered companies. … Continue reading

Posted in Tax avoidance, Tax planning | Leave a comment

BVI company’s tax avoidance scheme turned to be useless

According to the information by HM Revenue and Customs (HMRC), a multimillion-pound tax avoidance scheme was marketed by Goldcrest Pictures Limited, incorporated in the British Virgin Islands. This is a film production company, which has financed and produced more than … Continue reading

Posted in BVI Companies, Court decisions, Offshore investment schemes, Tax avoidance, Tax planning, Unethical business practice | Leave a comment