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BVI Hosts Regional BEPS Conference

by Mike Godfrey, Lowtax.net, Washington
16 December, 2016

The British Virgin Islands has hosted a regional conference on "Current Developments in International Taxation and the Impact on Caribbean Jurisdictions."

The conference, which was organised by the BVI Ministry of Finance, the OECD, and the OECD's Global Forum on Transparency and Exchange of Information for Tax Purposes, was host to four members of the OECD and 17 regional representatives for a one-day conference.

It was held at the BVI's newly opened International Arbitration Center and focused on Base Erosion and Profit Shifting (BEPS), the new inclusive framework for participation in the BEPS process, and tax transparency and information exchange in tax matters.

Director of the OECD Center for Tax Policy and Administration Pascal Saint-Amans said: "We have received worldwide support for [the BEPS] initiative with 85 countries already signed up to the inclusive framework and participating fully in moving the BEPS initiative forwards. I welcome the leadership role that the British Virgin Islands Government has played in inviting the OECD and colleagues across the Caribbean to participate in this important meeting to discuss in more detail how the region can play its part."

Speaking ahead of the event, BVI Financial Secretary Neil Smith said: "This conference will allow regional leaders and regulatory bodies to get together and share perspectives, which may well be different, given our individual circumstances. I believe we can use this opportunity to learn from each other and engage in an open discussion to collectively assess the impact of the ongoing developments for the region."

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