The Financial Services Implementation Unit (FSIU) is ensuring that the BVI Forward campaign designed to further strengthen the financial services sector, has support on both sides of the House of Assembly.
Financial Secretary Mr. Neil Smith has updated Financial Institutions on the new amendment to the Mutual Legal Assistance (Tax Matters) Act, 2003 which incorporates the Common Reporting Standards (CRS).
The Financial Services Implementation Unit (FSIU) in partnership with the Ministry of Education, is pressing ahead with plans to strengthen financial services education in the Territory to improve the future industry related skills of the BVI workforce.
The Government of the Virgin Islands has sought further clarification from the European Union (EU) on the inclusion of the Territory and a number of Overseas Countries and Territories (OCTs) associated with the European Union on a pan-EU blacklist of non-cooperative tax jurisdictions published earlier this year.
The Financial Services Implementation Unit (FSIU) is partnering with the education community to identify ways for young people to be better prepared to capitalise on opportunities in the financial services industry.
Premier and Minister of Finance, Dr. the Hon D. Orlando Smith, OBE discussed progress on economic development in the territory and the continued growth of the twin pillars of the economy, financial services and tourism in meetings he has just attended in the United Kingdom.