The British Virgin Islands has been officially removed from the French blacklist of non-cooperative tax jurisdictions.
Premier and Minister of Finance Dr. the Honourable Natalio Wheatley made the announcement during a recent sitting of the House of Assembly.
He said the achievement underscores the territory’s unwavering commitment to international tax transparency and collaboration. The premier acknowledged the diligence of various stakeholders, including government officials, industry representatives, and the broader international tax community.
“Over the past few years, the BVI government has worked diligently to address concerns raised by France and other international partners. This included implementing legislative and regulatory reforms, such as enhancing our tax information exchange framework,” Dr. Wheatley stated.
The premier highlighted that the removal from the French blacklist is a testament to the effectiveness of the BVI’s efforts and the collaborative spirit of those involved. He commended the hard work and dedication demonstrated by everyone, emphasizing the positive impact that will benefit the territory’s reputation as a leading international financial centre.
“It strengthens our ability to attract responsible businesses and investors who value transparency and cooperation,” the premier added.
In outlining the way forward, Premier Wheatley outlined the BVI Government’s ongoing commitments which include: maintaining robust tax information exchange frameworks, collaborating with international partners to address evolving tax challenges and promoting a business-friendly environment that upholds the highest standards of transparency and cooperation.
He expressed confidence that the BVI will continue to be a jurisdiction of choice for businesses and investors seeking a stable and well-regulated environment.
The finance minister also reaffirmed his government’s dedication to constructive dialogues with France and other partners on tax matters, ensuring the continued success and adherence to international standards in the years to come.