BVI News

France blacklists BVI as a non-cooperative tax haven

Premier Andrew Fahie

By Kamal Haynes, BVI News Staff

France has blacklisted the British Virgin Islands as a non-cooperative territory in tax matters.

The BVI was added to the French-speaking nation’s blacklist on Tuesday, January 7.

According to French media station Rivera Radio, France’s Minister of Economy and Finance Bruno Le Maire, listed the BVI among four new countries to which now includes a total of 13 countries.

Apart from the BVI, the other countries named were Anguilla, Bahamas and Seychelles.

In a response to the recent news, Premier Andrew Fahie in a statement released on Thursday, January 9, stated that France had overlooked the good tax cooperation between them and the BVI in their decision to add the territory to the list.

“As our treaty partner, we continue to cooperate with France on an ongoing basis to meet our treaty obligations. However, there appears to be a misunderstanding and possible miscommunication on certain matters which we are working with our French partners to resolve,” Premier Fahie stated.

“For the duration of our relationship, we have diligently followed the processes laid out in the BVI-France Tax Information Exchange Agreement (TIEA) and will continue to do so. Thus, it is unfortunate that we were included on the French list while working through French requests,” he added.

Aims to rectify all issues

The Premier, however, said he is confident that all outstanding tax-related issues will be addressed within the BVI’s Tax Information Exchange Agreement to have the territory removed from the blacklist soon.

“The BVI is a jurisdiction that has always adhered to international standards and maintains good cooperation with jurisdictions around the world. As a leading international finance centre, our international partners can trust we will continue to do so. We will continue to diligently uphold our obligations and commitment to them, which we take very seriously,” the Premier said.

Having to change a number of tax related legislations in 2019

Since coming to office in February 2019, the VIP administration has been faced with constantly having to amend a number of legislations to keep the territory from being blacklisted by a number of international countries and agencies.

The government has had to amend the Beneficial Ownership Secure Search System (BOSSs) Act at least three separate times within the last few months and were recently made to amend the BVI Business Companies Act.

Copyright 2020 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.

39 Comments

Disclaimer: BVI News and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the comments below or other interaction among the users.

  1. vip heckler says:

    Our leading is beginning to sound more like Trump. They both have similarities with the truth

    12
    19
    • Trump says:

      Keep Trumps name out of the filthy mouths of the BVI Belongers. Keep your noses out of the US business. Pay attention to your own racist and crooked politics and Territory.

      19
      13
      • Enough says:

        Whilst it probably won’t affect many people, perhaps we should introduce a visa requirement for French citizens until they remove the BVI from the list. Unfortunately, I doubt that more than a handful of people in France even know what its Government has done, and this would generate some fabulous publicity – ‘small Island nation stands up to bullying EU country’!

        9
        7
      • Father Time says:

        @ Trump, damn bro. Don’t nobody give a f*** about you and your cheeto puff.

    • RT says:

      Trump bashing will only shoe your ignorance.

      2
      2
    • Ami Des Isles Verge says:

      Riviera Radio is a Monaco Radio station. Monaco is an independent country with its own tax issues with France.

      Many of Monaco’s apartments are owned by BVI companies. Monaco is also considered a tax haven. This may have more to do with issues between France and Monaco than France and BVI.

      • Truth says:

        This has to do with a certain wealthy french nationals in the news. We down here are the scapegoat to beat up on because they can not control their own citizens.

  2. vip heckler says:

    Our leader is beginning to sound more like Trump these days. They both have problems addressing the truth

    12
    18
  3. @vip heckler says:

    Can you imagine what Fahie and willock would’ve been saying now if it was the NDP in power????

    21
    7
    • TO @vip heckler says:

      Your point is not valid because the areas France is concern about involves the time frame when ndp was in office. So VIP now has to deal with yet another mess left by the NDP.

      14
      10
    • @ vip heckler says:

      why some of you all do not keep the esteemed name out of your mouth?

      The France thing happened because of NDP incompetence and not doing anything for the financial Services. They missed the deadlines up to 2018 December

      No one can debate that, as its just the facts. NDP kill we BVI but never will they get back

      5
      7
  4. strupes says:

    leh france cart dem behind

    17
    2
  5. tell us says:

    Cannot blame the previous government for this one fahie. Next month will make one year since your government win. What were you doing for 11 months beside taking pictures and sending home people from their jobs? Tell us. No lies today pretty please. We already had our fair share of those over the last 11 months.

    18
    13
    • @tell us says:

      The only person to Blame is the ndp government. France clearly stated what years are of concern and they are not any time since the VIP Government took over.

      5
      6
  6. NOTE says:

    The concerns raised by FRANCE were all times before this government took office. Another NDP success.

    7
    11
  7. Anonymous says:

    France?! For god sake, go get a conscience! After you have accomplished that, proceed to take your nasty fingers out of the economics and politics of the Black world.

    15
    4
  8. oh! so it go? says:

    WHEN IT’S ALL BAD IT IS THE NDP FAULT..WHEN IT’S ALL GOOD IT IS THE VIP PROGRESS

    20
    • @oh so it go says:

      Go do some research and you will find that from 2015 to 2018 is where France have unanswered concerns. The NDP was the only government in power at that time.

      4
      2
  9. Thieves says:

    Just quietly ignore the French until they go away. Btw it is good news that the Africans are ditching the French currency which will finally put an end to France’s thefts.

    3
    3
    • @Thieves says:

      Do you understand what being blacklisted means? It’s not an honor where you are listed with other blacks…lmao. As a country or territory being blacklisted means that businesses are not allowed to do business with you. No banking, no petroleum products, no cars, no nothing. This is only the beginning. As the EU follows up with the same black listing you will not get loans or loan guarantees. Better ship up, open your beneficial ownership for all to see and find a substitute to fund your crooked government

      6
      1
    • Rubber Duck says:

      There is no French currency. They use the Euro

      Hello

  10. Slave and Master says:

    What a set of idiots in this BVI. Everything must fit into their microscopic bubble.The only comment here that denotes `someone with any understanding of world affairs is Anonymous.France is the most criminal colonial power in the world. They are responsible for Haiti’s condition.France colonized fourteen countries on Africa’s West Coast and still after independence they maintain a strangle hold on their economy and currency. Even with the latest attempt to form a single currency “The ECO’ France still is responsible for the issuing of that currency.These European nations are wicked vampires and the church continues to deceive us to glorify and worship them. It is a pity that we exist in such darkness.Financial Services has become a corpse that we must wear. If only our bright boys had the slightest clue when we were being shackled with it. We have been robbed of our little country while government continues to wonder and ponder what is next. I dare say we are going to be forced to take the loan guarantee and that will be the final nail in our coffin. Its a pity there was no one with a little insight, courage and honor. You guys can talk as much crap as you like, its a done deal.

    19
    5
    • Another says:

      Another racist among us. Always blaming the white man for the perils of the poor Blackman. Just remember this. Your own brethren captured and rounded you up and sold you to the white man. If the Blackman is so wonderful and above the white man then why did you end up slaves. I’ve heard in these comments that you were a highly developed society on the cutting edge of everything yet you allowed the lowly white man to enslave you. Get real people. The financial sector was created by the white man and the white man is going to take it away. Let’s see your great minds figure out a new method of income.

      7
      18
      • @ Another says:

        First, your post is dribbling with racism. So clearly you a stoned cold racist.

        Second, you are not wlcomed in the BVI being a white racist.

        Third, you blogging misinformation relative to Africans selling Africans. That is flat out historical lie inheritor of slave blood money.

        However, this forum does not permit the time or space to educate the public or you to the facts relative to that issue.

        But because “Slave and Master” blogged some truthful facts that most caucasiods cannot accept, you chose to blog back with a lie. But we got ya! A typical caucausiod.

        Fourth,Indeed, we were once a poerful people culturlly and economically. Where did europeans learn about gold, diamond, precious, metals and stones, commerce and trading? They first lernt about them from the Black African.

        Deny all you. Go read. But not only that, begin to accept what you and stop being such a hopeless hating the African Black man racist. You might live a day longer.

        With regards to control of the economic cycle. We onec owned it. The white do today. Tomorrow it may be the chines turn. Bu either way, the white man’s turn will come to end. So put that inyour racist craw and chew on it.

        12
        9
        • Jane says:

          White racist, black racist, purple racist and green racist….how about no racist is welcome here? If humanity is to survive the climate apocalypse we are going to need to find a way to put the past to one side so we can work as one: that is to say, we must acknowledge the terrible past, but we must not let it define how we as educated modern people live together as one.

      • Future says:

        Well, Another.

        Are you secretly paranoid about our savage African “brethren” and what they will do WHEN they gain global dominance over you? I only wish I am alive to see it.

        5
        2
  11. Smh says:

    FIA director

  12. Vg boy says:

    Everyone blacklisting the BVI. I say F..k them we good over here

    8
    2
  13. yeah says:

    France need to stop stealing Billions from them African countries and black list themselves as without black people they will be worst than a 3rd world country

  14. Bullies says:

    France is making BVI ITA their unpaid agent beyond the scope of transparency i.e. accounts, French tax tell BVIITA to get the registered agent to contact the client for information, that’s nonsense, if you have concerns go chat to your citizen. This is the 2nd time France have blacklisted BVI at some point we have to stand up – but after ensuring we have addressed any deficiencies in the MLAT reporting system (1. make it electronic/email, a forest of paper is ridiculous!).

  15. Thank you says:

    Many thanks to BVI News for pointing out that France is a French speaking nation.
    As erudite as ever. What a bunch of spunk puffins.

  16. Please says:

    F – France.

  17. G.O.D. says:

    Hm! SUPPOSE OTHER COUNTRIES AGREE WITH FRANCE? THE FINANCIAL HOW IS NOW DEAS

    STOP LITTERING
    PROPPER CITY MANAGERS
    DEVELOP INFRASTRUCTURES
    START FARMING- SELF SUSTAINABILITY
    DEVELOP THE MARINE CENTER

    THEY CANT BLACK LIST TOURISM AND THE 3RD PILLAR

    G.O.D

  18. mmmario says:

    Fahie – I see where the miscommunication could have gone wrong – we here speak Patois them on the other hand speak French…Understandable.

Leave a Comment

Shares