BVI and EU co-chair Meeting to Discuss EU Tax List Issues

BVI and European Commission co-chaired the meeting of financial services partnership working party which was held in Belgium between the EU and a number of Overseas Countries and Territories. During the meeting, the EU list of non-cooperative jurisdictions for tax purposes was discussed. From OCT jurisdictions, there were representatives of Aruba, British Virgin Islands, Cayman Islands, Turks and Caicos Islands and some others, from EU, there were the officials from the Directorate General for Tax and Customs Union and Directorate General for International Development and Cooperation. 

Beside the listing process and ongoing procedures, the participants of the meeting also discussed beneficial ownership developments in the EU and OCTs and EU approach to taxation in the digital economy sector. 

BVI London Office director and UK and EU representative Benito Wheatley co-chaired the meeting on behalf of the BVI, and currently is co-chairing the OCT/EU financial services partnership working party. He said in his comments: “It is critical that the EU and OCTs maintain dialogue on tax and other financial services issues to gain a greater understanding of any concerns.”