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BVI, Overseas Territories Discuss Tax With EU

by Mike Godfrey, Lowtax.net, Washington
27 June, 2016

Officials from the British Virgin Islands joined representatives from other overseas countries and territories to discuss anti-tax avoidance initiatives with the European Commission.

The EU's BEPS anti-tax avoidance package was discussed, including the treatment of "Third Country Jurisdictions" in relation to tax good governance, the BVI Government reported.

The BVI's Financial Secretary, Neil Smith, said: "The exchange was useful in understanding the EU's approach to international tax issues and for us to clarify the international standards BVI meets on tax as a member of the OECD Global Forum."

The BVI delegation also discussed its importance to the world economy as a conduit for investment and noted changes to the territory's regulatory regime.

Permanent Secretary in the BVI Premier's Office Brodrick Penn stated: "We highlighted how the BVI enables global commerce, while continuing to meet Financial Action Task Force and other international standards on transparency which helps to maintain the integrity of the global financial system."

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