Opposition Member and Third District Representative, Hon. Julian Fraser said that the Territory has been led to believe that France promised to remove the BVI from its list of blacklisted countries, but to date this has not been done.
During a VIP community meeting that was held in the Third District, Hon. Fraser quoted a statement that was made by Premier, Dr. the Hon. D. Orlando Smith on the matter, and contended that the statement given by the BVI Leader on the matter gave the impression that the blacklisting situation was being rectified. However, nothing has changed.
“The French Blacklist is still in force since August 2013, despite this statement by the Premier in November 2013, The Government has had discussions with France as far as the blacklisting is concerned and France is now satisfied with the process which we have in place. That statement left everyone believing that France had assured the Premier that the blacklisting was to have been removed,” Hon. Fraser said.
Premier Smith’s most recent update on the matter was provided during a press conference on 26 June. At that time the BVI Leader – during a press conference on 26 June – explained that he is anticipating the removal of the BVI from France’s list of non-compliant states soon. The Premier explained that his optimism stems from the fact that he has been in communication with the French Government who have noted the Territory’s remedial moves.
“They were impressed with the progress we have made in fulfilling our obligations to France under the Tax Information Agreement. As you know, we created the International Tax Authority in 2012 and have further strengthened its capacity… I am optimistic that we will be considered for removal from that non-compliance list,” Hon Smith disclosed.”