Virgin Islands News

BVI Says New Global Tax Rules Should Appreciate Offshore IFCs
by Jason Gorringe, Tax-News.com, London
Friday, August 6, 2021
The British Virgin Islands Government has released a statement expressing concerns on the proposals being discussed by the OECD to establish modernized rules for the digitalized economy, including a minimum global corporate tax rate. Read Full Story

BVI Rules Out New Taxes In 2021 Budget
by Jason Gorringe, Tax-News.com, London
Tuesday, November 17, 2020
The Government of the British Virgin Islands has announced that it will seek to boost tax collections by modernizing tax administration, not by imposing new taxes. Read Full Story

Cayman Islands, Oman Removed From EU Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, January 13, 2021
On October 6, 2020, the EU announced that it has added Anguilla and Barbados to its list of non-cooperative jurisdictions for tax purposes and has removed the Cayman Islands and Oman. Read Full Story

OECD Releases New Action 14 Peer Review Reports
by Ulrika Lomas, Tax-News.com, Brussels
Friday, July 31, 2020
The OECD has released peer review reports reviewing nine territories' progress towards implementing the BEPS Action 14 standard, on improving tax dispute resolution. Read Full Story

Bill Would Exclude US Territories, Possessions From GILTI Regime
by Mike Godfrey, Tax-News.com Washington
Friday, May 15, 2020
On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income regime on businesses based in US territories and possessions. Read Full Story

EU Adds Cayman Isles, Panama, Seychelles To Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, February 20, 2020
The EU has added the Cayman Islands, Palau, Panama, and the Seychelles to its list of non-cooperative tax jurisdictions, bringing the total tally to 12 from 8. Read Full Story

France Updates Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, January 15, 2020
On January 6, 2019, a decree was published in the French Official Journal to modify the list of non-cooperative states and territories in tax matters. Read Full Story

Netherlands Adds To Tax Blacklist
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, December 31, 2019
Barbados and Turkmenistan have been added to the Netherlands' list of low-tax jurisdictions for the purposes of enforcing certain anti-tax avoidance rules, the Dutch Ministry of Finance announced on December 30, 2019. Read Full Story

BVI Issues Final Economic Substance Rules
by Jason Gorringe, Tax-News.com, London
Monday, October 28, 2019
On October 9, 2019, the British Virgin Islands International Tax Authority has finalized rules governing the application of the territory's new economic substance requirements, which became effective from January 1, 2019. Read Full Story

Costa Rica Clarifies Amendments To Non-Cooperative Tax List
by Mike Godfrey, Tax-News.com, Washington
Friday, October 18, 2019
Costa Rica's Ministry of Finance has released a statement clarifying its decision to exclude a number of territories with low effective income tax rates from its list of non-cooperative territories. Read Full Story
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