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VI & EU Co-Chair Blacklist meeting of OCT Jurisdictions

- VI on a grey list & fighting back
It was on March 13, 2018 that a meeting was convened in Brussels, Belgium with the EU Commission, The Director General of Tax and Development Cooperation and Co-Chaired by the Territory’s EU/London Ambassador E. Benito Wheatley, right. Photo: Team of Reporters
Businessman and former Permanent Secretary with the Virgin Islands Government, Mr Julian Willock has accused the European Union of acting with double standards when it comes to blacklisting of financial services jurisdictions. Photo: VINO/File
Businessman and former Permanent Secretary with the Virgin Islands Government, Mr Julian Willock has accused the European Union of acting with double standards when it comes to blacklisting of financial services jurisdictions. Photo: VINO/File
BRUSSELS, Belgium, EU- The British Overseas Territory of the Virgin Islands (VI) was recently placed on a grey list. This means that if certain steps are not taken to correct what the European Union (EU) regards as anti-tax avoidance standards the VI will be blacklisted.

The VI, through its London Office, remains active in having open dialogue with the EU on the Territory’s position.

It was on March 13, 2018 that a meeting was convened in Brussels, Belgium with the EU Commission, The Director General of Tax and Development Cooperation and Co-Chaired by the Territory’s EU/London Ambassador E. Benito Wheatley.

The summit, referred to as the Financial Services Partnership Working Party (PWP) between the EU and a number of Overseas Countries and Territories (OCTs), facilitated discussions about the EU's list of non-cooperative jurisdictions for tax purposes.

The VI remains at the Table

The group included Representatives and Technical Experts from Aruba, the VI, Curacao, Cayman Islands, French Polynesia, Greenland, Montserrat, New Caledonia, Sint Maarten and Turks & Caicos Islands. The Representatives discussed the state of play of the listing process and ongoing engagement.

The participants also discussed beneficial ownership developments in the EU and OCTs and the EU's approach to taxation in the digital economy, according to Mr Wheatley, in a brief statement to our newsroom.

Mr Wheatley, the current head of the BVI London Office, who will be replaced soon, co-chaired the meeting on behalf of the VI and currently serves as the Co-Chair of the OCT/EU Financial Services Partnership Working Party.

“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,” Wheatley said.

Julian Willock speaks

Mr Julian Willock, a businessman and former Permanent Secretary with the Virgin Islands Government, who has emerged as a local non-governmental voice on the Territory’s financial services sector, said: “I commend the good works of the BVI London Office in keeping the BVI’s position on the agenda, as the double standards of the countries on the blacklist are clear for everyone to see….”

Meanwhile, Mr Wheatley was joined at the meeting by Deputy Director of the BVI London Office Dr Sandra M. Besson and Mr Stephen Johnson, a consultant retained by the VI Government.

9 Responses to “VI & EU Co-Chair Blacklist meeting of OCT Jurisdictions”

  • watcher (16/03/2018, 16:50) Like (4) Dislike (0) Reply
    They want our financial sector
    • Bodecia (16/03/2018, 17:44) Like (4) Dislike (0) Reply
      guess they also want the financial sectors of all the other countries on the black an grey lists?
    • dude (16/03/2018, 18:20) Like (6) Dislike (0) Reply
      Correction they want their financial sector they're saying it wasn't made for us to do well so they're removing us from their game b/c we learned to play it
  • Truth (16/03/2018, 20:45) Like (5) Dislike (0) Reply
    I agree with jw, too much double standards in fact it's racism
  • Ben (16/03/2018, 23:35) Like (1) Dislike (7) Reply
    Poor Ben look tired and stressed out .
  • SMH (17/03/2018, 08:46) Like (3) Dislike (0) Reply
    Just know they will not stop until we go back to begging the big powers for a meal
  • I hope not because of (17/03/2018, 10:23) Like (3) Dislike (0) Reply
    this why they want to get rid of our young virgin islander as I feeling he is doing a good job throughout all these circumstances. When are we gonna continue to stop accepting evil dirty smart and unlawfulness over way is good clean and truthfulness. it is no wonder we continue to reap the windfall of karma that continue to fall upon us all the good the bad and the ugly
  • Victim (17/03/2018, 17:40) Like (3) Dislike (0) Reply
    The EU has no business 'blacklisting' anyone. They are neo-nazi and are just using blackmail to try and get
    other countries and anyone or anything within them - to hand over their money. England should nuke the
    bastards, if it had any common sense.
  • Josiahsbay (19/03/2018, 15:07) Like (1) Dislike (0) Reply
    We need to stop living a dream and wake up to the fact that these people are trying to destroy our financial sector or at the lease neutralize it. They are not sympathetic to the fact that that is our major revenue earner or potentil damage to our standard of living if they succeed in destroying it.


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