BVI Removed From French Financial Blacklist.

Image: World Atlas. The British Virgin Islands are working to be accepted as a financial centre that complies with international laws on money-laundering.
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Premier of the Virgin Islands Dr. Natalio D. Wheatley said that he is pleased to announce that the British Virgin Islands  has been officially removed from the French blacklist of non-cooperative tax jurisdictions.

Premier Wheatley made this announcement during the Ninth Sitting of the First Session of the Fifth House of Assembly on Tuesday, March 5.

He noted that this marks a significant achievement that is proof of the Virgin Islands’ ongoing commitment to international tax transparency and cooperation.

The Premier stated, “We understand the importance of upholding the highest standards in relation to tax transparency. Over the past few years, the BVI government has worked diligently to address the concerns raised by France and other international partners. This included implementing a number of legislative and regulatory reforms, such as enhancing our tax information exchange framework.”

He explained that the removal from the French blacklist demonstrates the success of these efforts. It is a testament to the hard work and dedication of all those involved, including government officials, industry stakeholders, and the international tax community.

This will contribute to the Virgin Islands remaining a jurisdiction of choice for businesses and investors seeking a stable and well-regulated environment.

He added that, “This positive development is a welcome boost to our reputation as a leading international financial centre. It strengthens our ability to attract responsible businesses and investors who value transparency and cooperation.”

Premier Wheatley also announced in the House of Assembly that his administration is committed to:

  • Maintaining robust tax information exchange frameworks;
  • Collaborating with international partners to address evolving tax challenges;
  • Promoting a business-friendly environment that upholds the highest standards of transparency and cooperation.

The Government of the Virgin Islands says in its press release that it remains resolute in the promotion of the overall development of the Territory through commitment and sustainable transformation.

It should be noted that the French blacklist is separate from the EU blacklist, on which the BVI is currently  listed as cooperating, but having made ‘pending committments’ that must be fulfilled before it can be promoted to the list entitled cooperating without pending committments.

More information here.

Source: BVI GIS.
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