Regulatory Alerts2014-10-23
Mutual Legal Assistance (Tax Matters) (Amendment of Schedule) Order 2014
The British Virgin Islands Minister of Finance issued this 2014 Order to amend the tax information exchange agreement with the United Kingdom by inserting new Articles 5A and 5B into its Schedule. These articles establish frameworks for the automatic and spontaneous transmission of foreseeably relevant tax data between competent authorities, enabling them to determine exchange items and procedures. The arrangement takes effect upon mutual notification of completed domestic procedures, applying to information exchanged from the later notification date regardless of the taxable period.
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