资讯
Jan-18-2010 BVI Tax Information Exchange Agreements signed with Ireland and China
The Government of the British Virgin Islands (BVI) has over many years built a reputation for being a constructive and co-operative member of the international community. In 2002, in line with this approach, the BVI endorsed the Organisation for Economic Cooperation and Development’s principles of transparency and the exchange of information, and committed to negotiate bilateral Tax Information Exchange Agreements (TIEAs) with OECD member states.
With the signing of its TIEA with New Zealand, the BVI was added to the OECD white list in August 2009.
On December 7, 2009 in London, BVI also signed TIEAs with Ireland and China.
TIEA with China
The scope of the TIEA with China covers mainland China and does not include Hong Kong, Macau or Taiwan. The Chinese TIEA follows the BVI’s usual model, but only deals with the exchange of information in relation to direct taxation; it does not cover indirect taxation. It is anticipated that the TIEA will have effect from the BVI tax year 2011-12, when both the BVI and China have completed their respective internal procedures. As a result of this agreement, both Governments have agreed not to apply restrictive tax measures to residents or nationals of either party. They have also agreed not to engage in fishing expeditions or to request information that is unlikely to be relevant to the tax affairs of a given taxpayer.
Together with the previously signed 15 TIEAs with USA, UK, Australia, seven Nordic countries (Denmark, Faroes, Finland, Greenland, Iceland, Norway and Sweden), France, New Zealand, the Netherlands, Netherlands Antilles and Aruba, BVI has now signed a total of 17 TIEAs.