Regulatory Alerts2010-12-08
Mutual Legal Assistance (Tax Matters) (No.4) Order, 2010
The Minister of the Virgin Islands issued the Mutual Legal Assistance (Tax Matters) (No. 4) Order, 2010, applying Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003, to an agreement with the People's Republic of China. This agreement establishes a framework for the exchange of information relating to taxes between the British Virgin Islands and China, covering individual income, enterprise income, payroll, and property taxes. It details the scope of information exchange, procedures for requests, confidentiality requirements, and conditions under which requests for tax-related information, including beneficial ownership, may be declined.
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