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USVI, Puerto Rico Look For Rum 'Cover Over' Extension
4/24/2012 Legislation has been introduced into both the United States Senate and the House
of Representatives to extend the 'cover over' of the excise tax on rum for Puerto
Rico and the US Virgin Islands.
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HMRC Could Investigate Apple's UK Tax Affairs
4/11/2012 Just days after it emerged that Amazon was under investigation by the UK taxman, Apple has come under fire for its payment of just GBP10m in UK corporate tax.
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Ogier Advises On USD1.1bn Debt Conversion
4/11/2012 Ogier's British Virgin Islands office has advised CEMEX - one of the world's leading
cement and building materials companies - on its most recent notes transaction
valued at USD1.1bn which closed at the end of March.
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Offshore Aspects Of Russian 'Superbank' Merger
3/19/2012 The Jersey office of Walkers, the leading international law firm, has advised on the multi-jurisdictional aspects of the USD1bn merger between Sberbank and Troika Dialog, which will create a Russian 'superbank'.
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Bill To Extend US Social Security To Puerto Rico
1/30/2012 Puerto Rico’s Resident Commissioner, Pedro Pierluisi, has introduced proposed
legislation into the United States Congress that looks to extend the Supplemental
Security Income programme to Puerto Rico, as well as to Guam, the US Virgin
Islands and American Samoa.
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Hague Seeks 'Modern Relationship' With Overseas Territories
1/23/2012 The British Foreign Secretary William Hague has announced that he will lead one
of the strongest ever delegations of UK ministers and senior officials to attend
the UK-Caribbean Ministerial Forum to coincide with the government's review of
its relationship with its overseas territories.
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AIM-Listed Firms Prefer IoM
1/5/2012 Research commissioned by the Isle of Man government shows that the Isle
of Man continues to dominate the market as a domicile of choice for companies listed on London's Alternative Investment Market.
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BVI Business Activity Rises
12/21/2011 The British Virgin Islands Financial Services Commission has published statistics on the islands' financial
services industry for the second and third quarters of 2011, showing that business activity has increased this year.
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Hong Kong's Inward FDI Soars
12/13/2011 Recently released figures show that, at the end of last year, the stock of Hong
Kong's inward foreign direct investment increased by 16.7% from a year earlier,
to almost HKD8.5 trillion (USD1.09 trillion) at market value.
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UK To Enhance Relationship With Overseas Territories
11/28/2011 At the annual
meeting of the Overseas Territories Consultative Council, the United Kingdom's Foreign and Commonwealth Office highlighted progress
made in strengthening its relationship with its Overseas Territories.
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India Rapidly Expanding Tax Agreement Network
10/17/2011 India is playing a major role in the global crusade against black money and has completed negotiations for 16 new tax information exchange agreements, according to the chairman of the Central Board of Direct Taxes M C Joshi.
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CARICOM Welcomes Progress Towards FTA With Canada
10/5/2011 Caribbean Community Secretary-General Irwin LaRocque has welcomed progress
towards the CARICOM-Canada Trade and Development Agreement, and praised Canada's
'keen and earnest approach'.
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Asia-Based Incorporation Specialist Expands Into Europe
9/8/2011 Offshore Incorporations Limited, a leading global company formation specialist based in Asia, has announced the opening of its first European office, in London, to support a growing number of Asia-based companies investing in Europe.
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BVI Highlights Trust Expertise
7/6/2011 The benefits of using the British Virgin Islands as a jurisdiction for trusts and estates were the recent focus of a BVI International Finance Centre sponsored roundtable discussion with senior private sector individuals at BVI House in London.
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BVI, Czech Republic Sign TIEA
6/16/2011 The British Virgin Islands and the Czech Republic have inked a tax information exchange agreement, a deal both governments have stressed represented a milestone in bilateral relations.
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US Bills Introduced To Restrict Use Of Rum Taxes
5/24/2011 In the wake of the agreement between the US Virgin Islands and Diageo to
use up to USD2.7bn of the returned federal excise tax on rum sold in the United
States, bills have been re-introduced in both the Senate and the House of Representatives
to try and ensure that those tax funds are only used for public services.
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OECS Working With WTO On Tariffs And Tax
5/16/2011 Following recent consultations in Dominica between the Organisation of Eastern Caribbean States's World Trade Organization members, the OECS has said that securing flexibility in negotiations on tariff liberalization will enable its governments to avoid cuts to border taxes.
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Onshore Domiciles Attract Captive Formation
5/6/2011 Companies are increasingly looking to onshore US domiciles when choosing to form captive insurance firms, the aggregate premium levels of which have increased substantially, according to a new report by the insurance broker and risk adviser Marsh.
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BVI Expands Pioneer Services Regime
4/22/2011 The British Virgin Islands has passed a motion providing for the expansion of its pioneer services regime, allowing it to confer such status on a wider variety of sectors, including boat manufacturing.
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First Channel Islands Trust Firm Opens India Office
4/18/2011 Guernsey-headquartered Nerine Group has become the first independent trust company from the Channel Islands to open a full office in India, Nerine Advisory Services in Delhi.
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Offshore Banking Body Rebrands
4/11/2011 Having broadened its role as a representative on behalf of numerous offshore financial centres in issues pertaining to financial sector regulation and best standards, the
Offshore Group of Banking Supervisors has decided to rebrand itself the
'Group of International Finance Centre Supervisors’.
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BVI Bucks Offshore's Falling Competitiveness
3/25/2011 The British Virgin Islands has reversed recent trends by becoming the only
offshore financial centre to have its rating boosted in the latest Global Financial
Centres Index.
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London Tops Financial Centres League
3/24/2011 The latest Global Financial Centres Index, produced by the Z/Yen Group,
showed that London again came out on top, followed closely by New York and Hong Kong, although
confidence amongst financial services professionals seemed to have fallen in
the past six months, as is shown by lower overall ratings.
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Free Movement Agreed For OECS Nationals
2/2/2011 Leaders of the Organization of Eastern Caribbean States concluded a two-day meeting
in Grenada with the signing of an agreement to facilitate
the free movement of nationals within the sub-region by August 1.
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Caribbean Sharpens Response To Financial Crime
1/19/2011 In an effort to sharpen the regional response to transnational organized crime,
the Caribbean Community Implementation Agency for Crime and Security and the Caribbean
Financial Action Task Force have signed an agreement, laying down a framework for combating
financial crimes including money laundering.
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BVI Highlights Forthcoming Fee Changes
12/29/2010 The British Virgin Islands Financial Services Commission has issued a notice reminding regulated
entities that fees applicable under financial services legislation will change
with effect from January 1, 2011.
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IMF Formulating Fiscal Plan For Indebted Caribbean
11/19/2010 The International Monetary Fund has announced the launch of a forum aimed at
drafting fiscal solutions for Caribbean territories, many of whom, due to the
financial crisis, have experienced significant expansion in their already
unsustainable deficits.
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Caribbean Urges Change To UK Flight Tax
11/17/2010 The Caribbean Tourism Organization has noted the publication of a report that comprehensively
analyzes the impact of the UK's aviation tax, the Air Passenger Duty, on the tourism
industries of Caribbean territories.
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BVI Signs TIEA With Portugal
10/8/2010 On October 6, the British Virgin Islands announced that it had signed a Tax Information Exchange Agreement, with Portugal, co-signed by Sergio Vasques, the Portuguese Secretary of State for Tax Affairs and the Ministry of Finance.
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BVI Announces Signing Of German TIEA
10/6/2010 The British Virgin Islands government has announced the signing of a Tax Information
Exchange Agreement on October 5 with Germany.
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Caribbean Intensifies Lobbying Against UK Air Tax
9/8/2010 The Caribbean is to intensify efforts to establish a 'fairer passenger tax system' in
the UK during an official visit to the city of London, which will include a
series of meetings between high-level officials and parliamentary
bodies, the Caribbean Tourism Organization said.
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Colombia, Portugal Sign DTA
9/6/2010 A double taxation agreement signed between Colombia and Portugal adds to those already concluded by Colombia with Spain, Switzerland, Chile, Canada, Mexico and South Korea.
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BVI To Amend Trust Licensing, Bank Regulation
7/22/2010 The British Virgin Islands Financial Services Commission has noted several
legislative amendments that will affect entities granted licenses in respect of
trusts regulated in the territory.
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BVI, US Banking Regulators Sign Landmark Arrangement
7/9/2010 The Financial Services Commission
of the British Virgin Islands and banking regulators in the United States have entered into an arrangement to share supervisory information to enhance the regulatory oversight of the industry.
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Six OECS Member States Adopt Economic Union
6/21/2010 The Prime Minister of Saint Kitts and Nevis, and Chairman of the Authority of
the Organisation of Eastern Caribbean States, Denzil Douglas said at a meeting held on June 18 in a forward
looking statement that member states would sign a landmark agreement to establish
an economic union in the Carribean.
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BVI Releases Draft Public Funds Code
6/17/2010 The British Virgin Islands’ Financial Services Commission is seeking
industry input on the proposed Public Funds Code, which is being drafted pursuant
to section 63(1) of the Securities and Investment Business Act, 2010.
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Captive Industry Guidelines Released
5/26/2010 Service providers in the captive insurance industry worldwide now have the benefit of a new set of best practice guidelines that the Cayman Islands Monetary Authority has contributed to developing.
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Australia Signs Offshore Agreements
5/25/2010 The Australian government has announced that agreements for the allocation of taxing rights with the Isle of Man, Jersey and the British Virgin Islands have come into force.
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India Opens Way To HK Treaty
5/4/2010 The Indian government has included the Hong Kong Special Administrative Region of the People’s Republic of China in its notification process of ‘specified territories.'
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Chile Plans More Tax Agreements
4/30/2010 Chilean finance minister, Felipe Larraín, has announced that the government had begun negotiation of Tax Information Exchange Agreements with a series of low-tax jurisdictions as a way of combating tax evasion.
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Caribbean Amongst Last Regions To Recover
4/26/2010 Commenting upon the release of the International Monetary Fund’s World Economic Outlook Report, Chief of the World Economic Division, Petya Koeva Brooks, warned that the Caribbean region can expect a protracted recovery from the financial economic crisis, despite a return of more favorable conditions globally.
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Conyers Advises On Impact Of BVI Funds Act
4/21/2010 International law firm, Conyers Dill and Pearman has released guidance on the forthcoming introduction of the Securities and Investment Business Act and its effect on hedge funds domiciled in the British Virgin Islands.
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India To Sign Offshore TIEAs
4/16/2010 The Indian government will proceed with negotiations towards tax information exchange agreements with nine low-tax jurisdictions.
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Guernsey Leads In Captive Insurance
3/24/2010 Two new studies have reaffirmed Guernsey’s position as the leading captive
insurance centre in Europe, and among the top four in the world.
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BVI To Review Taxes And Fees
3/15/2010 British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory
will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.
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