9.03.2016. BVI Planning Tax Regime Overhaul In 2017

Company News

The British Virgin Islands Government has announced plans to make substantial changes to the tax regime next year and to strengthen enforcement efforts this year. For 2016, the Budget announces three key changes. Import duties will be newly calculated on a good’s Cost, Insurance, and Freight (CIF) value, rather than its Free On Board (FOB) value.

In 2017, the BVI intends to adopt a “modern, more progressive payroll tax system” and review and revise the current stamp duty regime.