BVI Premier denied tax evasion and data leak media reports

BVI Premier denied tax evasion and data leak media reports

The Premier of the BVI Dr. D. Orlando Smith has denied a number of fraudulent media reports pertaining to BVI companies to an US-based international consortium of journalists.

The Premier claimed that BVI adheres to all international best standards and is open to global cooperation to tackle fiscal crime.

The Premier said that "The BVI financial services industry was built over several decades on key principles of integrity, vigilance, accountability and transparency; and in keeping with all relevant international standards. This has led to the international community having full confidence in our jurisdiction, thus the frequent use of BVI companies for a myriad of business transactions. Indeed, this Territory has been used overwhelmingly for legitimate financial and commercial activities. Where this has not been the case, we have always collaborated with our international partners."

"We can assure all our stakeholders around the world that as far as we know this is an isolated incident. Also, no breach of BVI official databases has occurred", claimed Premier.

Continuing, the Premier highlighted that "the BVI is not a secrecy jurisdiction. As a member of OECD Global Forum, we have signed 22 tax information exchange agreements and continue to negotiate with more than 10 other countries. In addition, the BVI shares information when legitimate requests are made by the relevant treaty partners. We operate effective international cooperation regimes and will continue to assist foreign authorities through our mutual legal assistance processes to ensure compliance with established legal obligations. We firmly commit to the full and effective implementation of internationally established standards concerning tax information exchange, the combating of money laundering and all other forms of financial crime."

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