CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. BVI Makes OECD White List

BVI Makes OECD White List

by Amanda Banks, Tax-News.com, London

17 August 2009


The British Virgin Islands has signed its 12th Tax Information Exchange Agreement (TIEA) after concluding an agreement with New Zealand.

The signing, which took place on August 13, means that the BVI will now be placed on the “white list” of those countries which have “substantially implemented” the internationally agreed tax standard as set by the Organization for Economic Cooperation and Development (OECD).

After signing the agreement on behalf of the BVI at the New Zealand Embassy in Washington, Premier Ralph O’Neal said: “The conclusion of this TIEA demonstrates the commitment of both the BVI and the New Zealand governments to the OECD principles of transparency and effective exchange of information. We are delighted that, in signing this TIEA with New Zealand today, we are now on the OECD’s white list."

He added: “The BVI is committed to cooperation and collaboration through these agreements. Today’s agreement is very much part of an ongoing process. We hope to sign our 13th TIEA with the Netherlands in the very near future and are in discussion with Ireland as well.”

The BVI signed its first TIEA with the United States seven years ago and has engaged in talks with a number of countries since that time. In addition to the US, it currently has agreements with the United Kingdom, Australia, France and the Nordic Alliance including Denmark, Finland, Iceland, Norway and Sweden. In addition, all members of the OECD have been approached and the BVI aims to conclude more agreements over the coming months.

The BVI’s move to the OECD white list means that it now joins the likes of the United States, the United Kingdom, France, Germany and Canada among the group of countries which have substantially implemented the internationally agreed tax standard.

In addition to the BVI, four other jurisdictions have been elevated from the OECD’s’ gray list of countries which have committed to, but not yet implemented, the tax standard since the lists were published after the G20 London Summit concluded on April 2. These jurisdictions include Bahrain, Belgium, Bermuda and Luxembourg.

A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.asp

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »