Regulatory Alerts2010-03-30
Mutual Legal Assistance (Tax Matters) Order, 2010
The Minister of the British Virgin Islands issued this Order to apply Part 1 of the Mutual Legal Assistance (Tax Matters) Act, 2003 to a bilateral agreement with Denmark for the exchange of tax information. The Order establishes detailed procedures enabling competent authorities to request, obtain, and share confidential data on income, payroll, property, and value-added taxes while ensuring requests demonstrate foreseeable relevance. It further mandates safeguards against disproportionate costs, legal privilege, and prejudicial tax measures to facilitate efficient cross-border tax administration without triggering "fishing expeditions."
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