The British Virgin Islands operates one of the most robust and
accountable regulatory systems in the world. It is more compliant
with global financial regulatory standards and more transparent
than many G7 countries including the UK and Germany. In recognition
of the Territory's commitment to regulatory excellence, the BVI
was placed on the OECD 'White List' in 2009. As a part of
its continued commitment to promoting transparency and prevention
of tax evasion, the BVI is a signatory to the Common Reporting
Standard (the CRS), an OECD initiative
that created a global automatic exchange of information between
signatory nations. A fundamental part of the functioning of the CRS
is the implementation of tax information exchange agreements
(TIEAs). The BVI Government has signed
and implemented 25 TIEA in recent years with jurisdictions such as
Australia, Canada, China, France, Germany, India, Japan, the UK and
the USA.
