Regulatory Alerts2020-05-14
Notice: Periodic Basis for Transaction Levy Payments by Class A Licensees
The Financial Services Commission of the Virgin Islands issued a notice under the Financing and Money Services Act, 2009 to establish the payment schedule for transaction levies. The Commission determined that Class A licensees must pay the collected transaction levy on a quarterly basis rather than monthly. This new quarterly payment requirement takes effect from June 30, 2020.
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