BVI REMAINS ON OECD WHITELIST
Written by Fuze Team on July 17, 2020
Premier and Minister of Finance Andrew Fahie has reported that the Virgin Islands remain on the white-lists of the Organisation for Economic Cooperation and Development (OECD) and the European Union (EU).
In a broadcast on the Financial Services Industry, the Premier said these accolades underscore the BVI’s commitment to upholding the integrity of the global financial system and their track record as a cooperative jurisdiction, which other International Finance Centres (IFCs) are seeking to emulate.
The Government recognises that the continued success of our financial services industry requires that they continue to align themselves with those and other standards as they emerge and they will take the informed and nuanced decisions required as circumstances develop.
Premier Fahie
He said not to be overlooked, they are getting closer to significant milestones in the area of publicly accessible registers of beneficial ownership and the government is continuing to take note of developments in this sphere.
The Premier said that against the backdrop of these developments, they are determined that any direction forward must be one that gives BVI the opportunity to do what is best for BVI and in a way that is best for BVI.
He cautioned though, there are other initiatives unfolding on the horizon that we must not lose sight of, and these include the OECD’s and EU’s digital tax initiative and the recent EU anti-money laundering initiative, noting that they must continue to be vigilant.
