We are pleased to advise that the Council of the European Union confirmed on 17 October 2023 that the British Virgin Islands (BVI) has been removed from its list of non-cooperative jurisdictions in tax matters – the EU’s ‘blacklist’.
The European Union’s decision to remove the BVI from its blacklist comes after a thorough review of the jurisdiction’s tax policies, transparency regulations, and adherence to international tax standards. The BVI has worked diligently to address concerns and demonstrate its dedication to global cooperation in combatting tax evasion and ensuring financial integrity.
Appleby joins BVI Finance in its statement that “this is a welcome change that directly reflects the progress and hard work done in the BVI to meet the international standard as set out by the OECD Global Forum. . .We will continue to protect and promote the reputation of the BVI as one of the world’s most respected and trusted financial centres.”
If you have any queries about this change, please do not hesitate to get in touch with your usual Appleby contact.
