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Taxation in the British Virgin Islands is relatively simple by comparative standards; photocopies of all of the tax laws of the British Virgin Islands (BVI) would together amount to about 200 pages of paper. [1] Among the items in the British Virgin Islands that are not subject to taxation: no capital gains tax, no gift tax,
0% (first €8,700 per year is tax free) 49.5% [172] 21% (standard rate) 9% (essential and selected goods) Under the new policy it is 36% with out a tax free limit. The old system presumes 7.6% gains for investments & 4% gains on banksaldo interest, taxed 36% Taxation in the Netherlands New Zealand: 28% 10.5% [173] 39% [174] 15% Taxation in New ...
The strongest consensus amongst academics regarding the world's largest tax havens is therefore: Ireland, Singapore, Switzerland and the Netherlands (the major Conduit OFCs), and the Cayman Islands, British Virgin Islands, Luxembourg, Hong Kong and Bermuda (the major Sink OFCs), with the United Kingdom (a major Conduit OFC) still in transformation.
The economy of the British Virgin Islands is one of the most prosperous in the Caribbean. Although tiny in absolute terms, because of the very small population of the British Virgin Islands , in 2010 the Territory had the 19th highest GDP per capita in the world according to the CIA World factbook . [ 4 ]
The eight major pass-through economies—the Netherlands, Luxembourg, Hong Kong SAR, the British Virgin Islands, Bermuda, the Cayman Islands, Ireland, and Singapore—host more than 85 per cent of the world's investment in special purpose entities, which are often set up for tax reasons.
The British Virgin Islands has almost no taxation. Although there is technically income tax in the British Virgin Islands, the effective rate is zero. There is no capital gains tax, gift tax, sales tax, value added tax or inheritance tax. The only real tax burdens imposed in the jurisdiction are:
The official currency of the British Virgin Islands has been the United States dollar (US$) since 1959, the currency also used by the United States Virgin Islands. [3] The British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region, with a per capita average income of around $47,000 (2022 est.) [47]
The intention of the legislation was to eventually consolidate all British Virgin Islands company law into a single statute. Prior to the BVI Business Companies Act coming into force, it was possible to incorporate a company under two different statutes: the International Business Companies Act (Cap 291) and the Companies Act (Cap 285).
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