‘US can’t make laws for VI!’ – Edmund G. Maduro
“The United States of America or no country in the world can make laws to govern [us] in the British Virgin Islands…There are enough measures in place for the United States to get whatever information they want on anybody doing business here,” Maduro said, speaking on his EGM radio show last Thursday July 10, 2014 on ZROD 103.7 FM.
He is of the opinion that for any information to be released an application must be made through the court. “And the court must examine the application and make sure that the United States has a right to the information it is asking [for],” said Maduro.
“This is not an easy situation but ignorance overrules,” he said. He noted that the fact that other countries have signed the agreement should not be a consideration for the Virgin Islands.
“Other countries have signed it, but I don’t care who signed it. I am saying each and every one of us has the right to our personal secret information and there is already an established way of getting that information,” he said.
“Anybody that wants that information and they can prove to the courts that they have a legitimate claim to that information they can get it,” he said. “Our Constitution says we have that right to secrecy. Who is our leader to go and sign it away,” he asked.
FATCA is a United States federal law that requires United States persons living outside the United States to report, among other things, their income to the Internal Revenue Service (IRS). The signing took place in Washington DC June 30, 2014 and Premier and Minister of Finance Dr the Honourable D. Orlando Smith made the trip to sign the agreement.
.png)
.png)
.png)
Follow Us On
25 Responses to “‘US can’t make laws for VI!’ – Edmund G. Maduro”
Double taxation is unconstitutional for US citizens to begin with so this is a slippery slope that will even get Obama in trouble. But the pet government we have will learn the hard way.
And if you think that the million & billionaire right wingers will stand for this you're mad, as matter of fact some of you are mad that you're not a dual US citizen but that's your parent's fault. Why do the US celebrate on 4th of July? Fools.
Does Edmund realize that no matter where a US Citizen lives, that they're still a US Citizen with certain requirements? If they don't like it they can simply renounce their Citizenship. He keeps talking about court and constitution, but a Citizen of a country means you adhere to that country's rules. You cannot have your cake and eat it too Edmund. USA are telling their Citizens they have to report. USA are not telling BVI Citizens to report anything. Get it?
It is often said that if you don’t want to pay FATCA, renounce your citizenship. Firstly, as just stated FATCA is not just aimed at green card holders or citizens, but persons that the US considers to be residents (e.g. persons that have stayed with in the US for more than 32 days consecutively) as well. Secondly, renouncing your citizenship for tax purposes is prohibited, and even if the renunciation is successful, FATCA still catches you for at least a year afterwards and perhaps until you pay all the back-taxes that you didn’t know you had to pay (for e.g. a VI-US dual national that has never lived, worked or gone to school in the US could not be reasonably expected to know that he/she had to pay taxes on their income to the IRS).