Regulatory Alerts2010-03-30
Mutual Legal Assistance (Tax Matters) (No.3) Order 2010
The Minister of the British Virgin Islands issued this Order to implement a bilateral information exchange agreement with Iceland covering civil and criminal tax matters. It applies Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to require competent authorities in both jurisdictions to exchange foreseeably relevant tax data, conduct cross-border examinations, and maintain strict confidentiality. The Order establishes standardized request procedures, cost allocation rules, legal privilege safeguards, and entry-into-force conditions to facilitate transparent tax cooperation without prejudicial measures.
Share