Regulatory Alerts2016-02-10
Mutual Legal Assistance (Tax Matters) (Amendment of Schedule 1) Order, 2016
The British Virgin Islands Minister of Finance enacted this 2016 Order to amend Schedule 1 of the Mutual Legal Assistance (Tax Matters) Order, 2013. The amendment modifies the bilateral agreement with Guernsey by replacing paragraph 1 of Article 11 and paragraph 2 of Article 14. These changes guarantee that Contracting Parties will not apply prejudicial tax measures while the information exchange agreement remains effective and authorize competent authorities to mutually agree on procedures for Articles 5, 5A, 5B, 6, and 10.
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