en | hu | ru | bg | ro | tr FacebookTwitterGoogle+LinkedInYouTubeInstagram
+ 357-24-636-919
+ 44-20-7556-0900

Sign up for a free consultation
Subscribe to our newsletter
Request a return call
Downloadable brochures
Request a brochure
5 Minutes Offshore
How to order a company from LAVECO Ltd
Latest news
Currency exchange rates: USD/1 unit
HUF 0.004
GBP 1.3963
CHF 1.0589
RUB 0.0176
HKD 0.1276
JPY 0.0094
CNY 0.1582
CAD 0.779
AUD 0.7893
BRL 0.3084
EUR 1.2378


BVI admits France had reasons for blacklisting


France did not get enough information

BVI Premier Dr. D. Orlando Smith on Wednesday admitted that the British Virgin Islands had fallen short regarding information provided to French authorities, adding that measures have been taken to correct the “shortfalls” that resulted in the territory being blacklisted by France.

The admission, which was made during a press briefing, slightly shifted the position the “shocked” Premier Smith took last month shortly after learning that the BVI was among three countries blacklisted for not co-operating with France.

Premier Smith called another press conference today and announced his slightly adjusted position that the BVI indeed had fallen short.

“The BVI unfortunately fell short in the quality of information that was sent to the French authorities,” he told journalists.

Added the Premier: “We have already engaged the French Ministry of Finance and the competent authority to determine the steps that must be taken to correct our shortfalls, and expect to be able to reverse the label of being a non-cooperative territory in short order.”

In light of the shortfalls, Premier Smith who is also Minister of Finance disclosed that his ministry had taken steps to prevent a repeat.

“As Minister of Finance, I requested a restructuring of the ministry so that it could be more aligned with international standards. As a result, these issues encountered with the French Authority were corrected in the middle of 2013 with the establishment of the International Tax Authority.”


Related jurisdictions:
British Virgin Islands