VI Government Calls EU's Blacklisting Of Territory As Tax Haven 'Unjustified'
ST. THOMAS — The Government of the Virgin Islands has called the European Union’s move to add the USVI to its list of “non-cooperative jurisdictions” for tax purposes “unjustified,” contending that the EU’s decision to add the USVI to a long list of Caribbean islands that it has blacklisted came with no evidence.
There is no evidence that the U.S. Virgin Islands has been used to evade or avoid any taxes imposed by European Union member states, the G.V.I. said. In addition, as a territory of the United States, the U.S. Virgin Islands is subject to U.S. laws that deal with ownership information for financial assets and that provide for sharing tax information, the local government contended.
The government further stated that the U.S. Virgin Islands is neither a secrecy jurisdiction nor a so-called tax haven and will continue to cooperate fully with the U.S. federal government in implementing laws that provide for transparency and exchange of information.
“As the U.S. Virgin Islands continues to recover from the damage from the effects of Hurricanes Maria and Irma, we remain committed to attracting business and investment that will create increased economic activity and jobs,” read the statement.
Read more: http://viconsortium.com/business/vi-government-calls-eus-blacklisting-of-territory-as-tax-haven-unjustified/