BVI News

National Unity Government to review 7% remittance tax

Western Union and MoneyGram are popular money-transfer agencies in the BVI. Government has imposed a 7% tax on all monies leaving the territory through money-transfer agencies.

The seven per cent tax placed on money transfers leaving the territory has long since been an issue among expatriates in the Virgin Islands; however, Premier Dr Natalio Wheatley said his government is looking to review the policy.

Former Premier Andrew Fahie had promised to review the seven per cent tax on money transfers leaving the territory and when probed by a member of the media today, Dr Wheatley noted the project will not be abandoned under his National Unity Government. He noted this was something his administration was considering since it affects a lot of people in the territory.

“I am in discussion with my government on that [seven per cent tax on remittances] matter and you guys will hear about that matter shortly,” Dr Wheatley said.

The controversial legislation, passed in 2020, mandates that a seven percent tax be taken from all monies leaving the BVI through money transfer agencies. Any agency deemed to be non-compliant are liable to fines by the government.

Since the law has come into effect, the money earned from the tax has been a key component of the Virgin Islands’ revenue.

The government has since divided the monies earned from the tax and distributed it towards infrastructure, education, senior citizens, agriculture and fishing, as well as the land bank and first-time homeowners’ initiatives.

Shares

Copyright 2022 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.

61 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. Simple says:

    Just repeal this discriminatory law ASAP! No review, no committees, no public meetings, no BS just repeal it NOW!

    Like 83
    Dislike 11
    • Moses says:

      Those who have paid these high fees should be refunded. The national unity Govt should apologize, repent and refund those with receipts.
      We will be a great nation someday but today we need to acknowledge the mistakes we have made and compensate those we have taken advantage of.
      We can never again claim that we are owed reparations when we took advantage of our brothers in this way and totally mismanaged our path forward.

      Like 70
      Dislike 16
      • Did you know.. says:

        That the other country with a Government of National Unity is…

        Libya.

        We are getting more like them every day.

        Like 6
        Dislike 2
      • Hmmm says:

        This need stop cause Andrew Fahie saying he don’t want money leaving territory the bvi doesn’t have there own note is America money this man want to own every thing he did while in power is for his best interest,threat people want to be treated sir

        Like 4
        Dislike 1
      • Bad mind says:

        Do they realize that expats who build Tortola do they think the bvi people would have country in this position if wasn’t for expats where would the bvi be ,the US $ is America money you all using an not England

        Like 7
        Dislike 3
      • Socrates says:

        I propose that we eliminate the Title “Premier” as part of our reform. We are a country to 30,000 people. The title got to the head of Fahie. There is no small town leader in the Uk or US who has hired foreign bodyguards with instructions to “shoot to kill.” Our next leader needs to be closer to the people… more as a respected and capable manger. Preferably one that is well educated to serve as an example to our children. We don’t want a leader who needs a calculator to determine his 10% take on $68m a week. We don’t need a leader who doesn’t have the common sense to conduct simple due diligence. We want a manger to oversee a plan that we all understand and agree to.

    • Old fool says:

      Up belle vue will jump for joy if they remove that 7% cause it will mean more money going Nigeria lol send help.

      Like 3
      Dislike 19
      • To old fool says:

        He have no shame. His picture is all over, I know his sons are ashamed. Many people talked to that fool about what he’s doing with the scammers, but he is determined and I am sure he will die doing bu//$hit. That man believe presidents of African countries are calling him LOL LOL LOL

        Like 2
        Dislike 1
      • What do you mean? says:

        What has this to do with Nigeria. I will hold this against this website for publishing such a profiling and xenophobic statement. The BVI is bleeding and people like you are acting so dehumanizing. What a pity?

        Like 4
        Dislike 5
      • SO WHAT says:

        Why is that a concern of yours??

        Once your money is put to good use.

    • Apartheid says:

      BVI is an apartheid racist Territory. Human Rights violations left and right. Lock them all up. Lock them up with Obama!!

      Like 14
      Dislike 18
    • Sheepswapp says:

      Distributed the money for infrastructure? More walls that were never needed nor built. Corruption!
      Cut all Gov salaries by 10% and STOP free pensions after 5yrs service.
      Gov need to pay back $40mil bribe from SS and some people need to be in jail for this.
      No UNITY when it comes to ending corruption.

      Like 15
      Dislike 1
    • Nancy says:

      Are you crazy? Ms.P would be most offended.

    • Rex FeRaL says:

      @simple. Lets keep it simple…How is the law discriminatory? Explain…if you care to. I am a native who use the service every week and pay the dam service fee every time.

  2. Radio Rich says:

    Robbing b@stards

    Like 21
    Dislike 3
  3. Really says:

    You mean amongst his friends and family wickedness in high places wickedness will prevail but only for a little while want to know how some of you sleep at night.

    Like 13
    Dislike 1
  4. Happy 😊 says:

    That’s one of the best thing that this administration can do for the expats and locals who were sending money for their families they were treated like outside pickney under Andrew fahi hoping for the best under this new administration let’s hope no more bad eggs in the batch

    Like 29
    Dislike 1
    • Anonymous says:

      Exactly out money was taxed twice, and they sit and watch him doing s**t to the ppl

      Like 8
      Dislike 1
    • Duty is Normal says:

      Only in the BVI do people expect that services should be extended free of charge. Every country in the world charges a fee to send money to other countries. Why should this not happen here? Nonsense.

  5. home boy says:

    It also affect bvislanders who order stuff and have family abroad

    Like 19
    Dislike 1
  6. Well says:

    He had to pay for his powder

    Like 13
    Dislike 2
  7. thing is.... says:

    the government needs more money just to operate right now: the police are looking for back pay, they spent upwards of 8m on fakir legalities for the COI, countless millions on cronyism and have hollowed out our social security and still, there is no transparency: they tell us that nefarious scavengers set the dump on fire 4 nights in a row!

    Something’s going to give – but it should fall on all of us together.

    Like 5
    Dislike 1
  8. Owl says:

    Still no payment for Educatii , medical and the security of the country. Too much greed and unlawfulness.

    Like 6
    Dislike 1
  9. Rubber duck says:

    It should be more please don’t reduce it

    Like 12
    Dislike 33
  10. BVI Goverment Refund NOW!!! says:

    BVI Government needs to pay back these 7% funds to the hardworking expats. This tax was and is unjust

    Like 16
    Dislike 9
  11. Expat says:

    This 7% tax had pushed a lot of expats to use online money transfer app. Thus, it didnt benefit the govt . It cost more to loose.

    Like 6
    Dislike 1
  12. Truth says:

    Anybody who understands what this mean would see how morally wrong this is. If you had to work for almost nothing and still pay taxes on your money then still taxed on the same money just because you want to send your money to support family. We you show at Amazon or St Thomas do you pay tax?

    • ??? says:

      Of course it will be beneficial to thoae who send money out to build up their home countries. They could careless about the BVI. All they do is call down and degrade BvIslanders no matter who is in Government. All they want is the US$ and any Free Benefits that comes their Way. To these Persons I say ” The BVI don’t owe you a darn THING” take your georgie bundle and cart your rass!

      Like 2
      Dislike 6
    • So I am confused says:

      You send money made in the BVI to support your family then still talking about building this country. That don’t make sense. You get paid for what you did. So if you chose to send your money home. pay the tax or lit it stay in our economy so that the BVI can benefit. But the reality is, the BVI is a means to and end and that it.

  13. Please remove says:

    Da Damn thing Higher than the company service. Fee. I stop using it. Fahie even block vi card holders from using di WU app self Talk about dirtines

    Like 10
  14. Tricky says:

    It could be a little less or a percentage depending on the range amount sent.. but people have to pay something.. but then again what has it been use for if peoole aint get their increment for five years now… but every country charges some kind of tax though. Sbd then again some salaries are already so low…hmmmmm .. it should come down like to 1 to 2%

    Like 2
    Dislike 2
  15. What do you mean? says:

    What has this to do with Nigeria. I will hold this against this website for publishing such a profiling and xenophobic statement. The BVI is bleeding and people like you are acting so dehumanizing. What a pity?

    Like 1
    Dislike 1
  16. Hmmm says:

    Listen this was illegal from inception A**** know why he did that not a red cent went to the government it went straight in his pocket and cousin pocket ah could tell you mehson the rich gwtting richer and poor getting poorer. And look at when this 7% was implemented when people lost their jjobs during the ahut down. The dont need to review s**t they nedd to put it ba k where it was

    Like 14
  17. High House Rent says:

    The government need to take into consideration the high house rent. It is getting over burden on a lot of us. We hardly can find a house with a rent that can match our low paid salary. We need help!!!!!!

    Like 14
    • Maam/Sir says:

      It’s a bit difficult trying to regulate what someone charges to stay in their place. If it’s too high move on. Maybe when people stop renting their places at those high prices they will start to drop the prices. I think a lot too high also but it’s the people them place.

  18. Peter pan says:

    I don’t agree with the 7% tax. I hope if or when the tax is reduced that lots of the outside people will stop taking advantage of the kind people that live here in the bvi. They never have enough money to pay for anything as if everyone else do. It’s hard for everyone in the country.

  19. Inquiring says:

    Ok so when we getting price control on food prices in the BVI. I think they not realizing that food is a neccessity…

    • Unknown says:

      You mean to tell me, our hard earn money (7%) is used to build the BVI and Most of time we, expat don’t benefit. In blink of eye they put would us off island and they are constant reminders that we aren’t from here.

      Like 9
      Dislike 3
  20. Unknown says:

    You mean to tell me, our hard earn money (7%) is used to build the BVI and Most of time we, expat don’t benefit. In blink of eye they put would us off island and they are constant reminders that we aren’t from here.

    Like 4
    Dislike 2
  21. Really says:

    @ Rubber duck clearly the whole world now can see you are a duck with no brains 🧠 you illiterate human because of some of you all worthless and dumb comments nothing good to say about the exparts God don’t sleep anwatching and listening 👂 sit and think about what comes out of your mouth 👄.

    Like 6
    Dislike 1
  22. What!!!!! says:

    Didn’t you all now sitting in the HOA go along with implementing this tax in the first place???

    Like 19
  23. Expat says:

    Choosing to live in the BVI is a choice I choose to make. But honestly speaking when you look at the amount of contributions paid to the Government I really think this should be abondon..
    Social security taxes every month
    Work Permit exorbitant fees every year
    Immigration and additional money for time when labour gives us a hard time to received our permits on time.
    Visa fees every year or two
    National health Insurance every month when you turn up to medical facilities only hear NHI not covering this or that.
    Taxes paid at the airport each time your travelling
    And cost of living in the BVI is not Cheap.

    It’s not a matter of complaining it’s just the pressure when you look at how the your money is already budget out before you even received it and then to send a dollar to help yourself it’s tax again..
    At least some have mercies for people who are trying to make a honest bread.

  24. REAPING TIME says:

    Y’all complaining about petty cash. How do you think persons who have been robbed of their ancestral lands valued in the hundreds of millions feel.

    Like 1
    Dislike 9
  25. Ms P is the real Premier. says:

    They will have to consult with Ms P on this, she will have the final say..She was second in command after the XPremier, no she is incharge..Thought you all knew that, anyhow that’s a convo for another day.

  26. Thank You. M G. Malones too. says:

    Also, while you at it look into what M.Grams Malones been charging us two dollars xtra for years they say for security even when there were no security and why we have to pay for their security, they just scammers and scampished. How come Western Union don’t have no Security charges..Here is What I think about the Fees, I think they should be reduced not eliminated..This is what I will Suggest. Start at 2% Anything over $200.00. 3% Anything over $400.00 and
    4% Anything over$700.00.

  27. @thank you.M.G Ma**ne too says:

    Go sit down, You are another scammer. How could you suggest that? It’s best it same where it is. Don’t come here confusing and complicating things. Either cut it out or let it stay where it is. God don’t like ugly and he will give his revenge to anyone who is robbing the poor. I hope people are seeing that God already started his revenge.

  28. @ U HYPOCRITES says:

    THE BALD HEAD CHICKEN HAWK FROM VG HATED THE EXPATS WHO WORK HONESTLY TO MAKE A LIVING AND THAT EVIL 😈 HAD TO FIND A WAY TO TAKE SOME OF THEIR MONEY LIKE A SLAVE MASTER , AND NO TOUCHING THE EMPLOYERS WHO WAS NOT PAYING THEIR TAXES WHICH THEY ALREADY COLLECTED FROM THE SAME EMPLOYEES ( DIRTY MINDED ANIMAL

  29. Nancy says:

    Black on Black hatred has been rampant in the BVI since time immemorial.

  30. Even says:

    Round it off to an even 10%. That should be sufficient.

  31. Point of View says:

    Add tax to everything else; groceries, supplies, goods and services and do away with transfer fee. One has to give.

  32. Do it says:

    That 7% they charge is loan bulls*!t, how much more darn tax must be paid if the tax has already been extracted after been paid, thats the hight of bulls*!t as far as i can see, abuse of authority is what is been taking place, remove them all from there for all i care.

  33. local says:

    The government should concentrate on the group of people who live in the BVI without a work authorization. It’s quite inconvenient for us locals who pay our taxes, NHI Social Security, and Pensions, to have so many expats visiting and working through us. Get rid of the Immigration officer whom is harboring so many of them for his own amusement… all this irritate the struggling locals

Leave a Comment

Shares