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Taxation in the British Virgin Islands

Update Date:2018-2-13 11:36:50     Source:www.3737580.com     Views:681

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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 would together amount to about 200 pages of paper.[1] Taxation in the British Virgin Islands is mostly notable for what is not subject to taxation. The British Virgin Islands has:


1) no capital gains tax,
2) no gift tax,
3) no sales tax or value added tax,
4) no profit tax,
5) no corporation tax, and
6) no inheritance tax or estate duty, 


The absence of most major forms of taxation in the Territory has led to the country being included on most recognised lists of tax havens,although the jurisdiction prefers to style itself as a modern offshore financial centre.


There are a number of forms of taxation and revenue collection in the British Virgin Islands, but the majority of the Government's revenues are obtained directly from annual licence fees for offshore companies incorporated in the jurisdiction.

 


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