EU Update: BVI recognised as a tax-compliant jurisdiction
The British Virgin Islands is now recognised by the European Union (EU) as a jurisdiction which is fully compliant for tax purposes.
A media release from the Office of the Premier dated February 18 said the EU had made an announcement on the BVI’s compliance with a number of its requirements.
“Following a thorough process of assessment, monitoring and dialogue, the EU now deems the BVI to be fully compliant with its EU tax good governance principles and the jurisdiction has been removed from Annexe II,” the release said.
Responding to the territory’s achievement, Premier Andrew Fahie said the decision reflected the BVI’s dedication to adhering to the EU’s tax regulation requirements.
“I welcome the European Union’s recognition that the BVI fully complies with its tax good governance principles. This is as a result of close cooperation and positive dialogue with the EU and demonstrates the BVI’s commitment to meeting and surpassing international standards,” Premier Fahie stated.
“I, along with my Government, remain completely focused on ensuring the continued success of our international business and finance centre and its role in the global economy. We believe there will be significant opportunity for our territory and our people as we enhance our economic substance yet further,” he added.
According to the aforementioned media release, though the BVI was never added to the EU’s list of non-cooperative jurisdictions, it was placed on what is known as the Union’s Annexe ll while the EU “monitored the territory’s compliance in matters related to economic substance”.
READ: previous article about BVI and EU
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Some good news finally, hopefully they don’t move the goal post again!
Don’t believe the Fahie bulls**t. Where is the proof and paperwork. Just because he says it doesn’t mean it’s true. What conditions were set by the EU for this that still have to be met. How about some transparency for once by anyone in the corrupt government of the BVI. I suggest a call on the Governor to corroborate this piece of news so we can hear the real story.
I verified before posting and besides, Fahie could not come out claiming that BVI is on EU white-list publicly without it being a statement of fact.
https://www.applebyglobal.com/news/bvi-joins-eu-whitelist/
If it was negative news you would’ve accepted it.
Being placed on the white list means nothing. The BVI passed the necessary regulations to be placed on the white list…However, they now need to enforce the new regulations. Enforcing the new regulations will cause the companies to leave or the BVI will be in default again. Whichever it is, the end of the financial sector is on the horizon
It takes a special kind of stupid to think that the Premier would lie about the EU Certification. If your head wasn’t so far up your @$$ you would have seen the press release BEFORE Fahie even said a word and not look like an idiot.
lol lol lol. wow when you hate you hate. It really take a special kind of stupid ………..one with lots of hate in them. come on.
https://www.consilium.europa.eu/en/press/press-releases/2020/02/18/taxation-council-revises-its-eu-list-of-non-cooperative-jurisdictions/pdf
Where is the proof you liar ??!!
The VI been a compliant jurisdiction long before you were the leader, so it’s no thanks to you , what you need to hope is it stays that way and not drop off like the revenue has under your watch.
Another liard like the pass premier
More half truths?
who tell the most lies doc, foy or king liard?
I think we should hold our breath on this one!
I have a feeling that the goal post removal/”change request” strategy, is right around the corner!
The strategy of the game, is to totally destroy the industry, in this country.
Therefore, expect more false positives, like this one!