Lawmakers unanimously support legislation that helps keep the Virgin Islands in line with international standards when it comes to financial services, they said today in House of Assembly.
For the third day of the sitting, members passed three amendments to existing financial services-related laws: the Mutual Legal Assistance (Tax Matters) Act, the Partnership Act, and the Securities and Investment Business Act.
“It is quite obvious, Madam Speaker, that all my colleagues are in support of making sure that we maintain our position in the financial services industry; that we are able to meet requirements of those international bodies that come to assess us from time to time,” said Premier Dr. Orlando Smith wrapping up the debate on mutual legal assistance for tax matters.
Dr. Smith said the three bills will make the territory compliant with 2011 peer review recommendations from the Organisation for Economic Co-operation and Development.
See the Oct. 18 edition of the Beacon for full coverage,
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