Regulatory Alerts2011-07-12
Mutual Legal Assistance (Tax Matters) (Automatic Exchange of Information), 2011
The Virgin Islands Minister of Finance issued this Order to activate automatic exchange of information under Section 17 of the Mutual Legal Assistance (Tax Matters) Act, 2003. The legislation takes effect on January 1, 2012 and requires the competent authority to apply and transfer withholding tax for the 2011 tax year in accordance with Section 16 of the Act. This statutory transition establishes a continuous framework for international tax data sharing while preserving pre-2012 withholding obligations.
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