BVI Government Refutes EUs ‘Grey List’ Claims

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The BVI (British Virgin Islands) Government has publiclly released a statement regarding being classified as belonging to the European Commission’s ‘grey list’ of jurisdictions that have not yet reformed their tax systems to the EU standards.

They are looking to change their status to the white list in time, due to being a country that offers jurisdictional & tax neutrality to its clients from all over the world.

The Commission considers stereotypical tax havens such as BVI and the Cayman Islands are lacking economic sustenance, however the BVI is claiming its substance lies in, along with ‘physical substance’ in the form of a high quality commercial court, a branch of the Eastern Caribbean Supreme Court, an international arbitration centre, and its registry of corporate affairs.