In
demonstrating its commitment to enhancing international relations,
the Government of the British Virgin Islands has in place a total of
24 Tax Information Exchange Agreements (TIEAs), having signed its
most recent agreement with the Government of Canada on May 21,2013.
The
TIEA is based on a model agreement developed by the Organisation for
Economic Cooperation and Development (OECD) and will allow exchange
of information by request on criminal and other tax matters in
accordance with the procedures agreed.
Premier
and Minister of Finance, Orlando Smith, signed the agreement with
High Commissioner for Canada Gordon Campbell during the TIEA signing
ceremony that coincided with the Caribbean Council Reception, at the
House of Lords in London.
During
his keynote speech at the Caribbean Council Reception, Smith stated
that the BVI is unequivocally against tax evasion, fraud, money
laundering and any form of illegal activity and therefore supports UK
Prime Minister David Cameron’s agenda for the upcoming G8 summit.
In doing so, he reminded the audience that included Mr. Mark
Simmonds, MP, UK’s Parliamentary Under Secretary of State at the
Foreign and Commonwealth Office, that the BVI has always met
international regulatory standards.
To
date, the BVI has signed TIEAs with Ireland, the Kingdom of the
Netherlands, Curacao, St Maarten and Aruba, the United States, the
United Kingdom, Australia, New Zealand, France and the Nordic
Alliance of Sweden, Norway, Finland, Denmark, Iceland, The Faroes,
Greenland, China, India, Germany, Portugal, the Czech Republic and
the States of Guernsey.
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