News
'Legal actions' needed for 50% remittance tax cut to take effect- Financial Secretary
ROAD TOWN, Tortola, VI- Persons sending monies out of the Virgin Islands (VI) via Western Union and Moneygram will notice that they are still paying a 7% tax on transactions, despite Government announcing it is slashing the fee by 50%.
$1.7M income projected from 7% fee on $$ transfers for 2020- Premier
ROAD TOWN, Tortola, VI - The 7% transaction fee to take 7 cents of every dollar sent overseas through money transfer providers like Western Union and Moneygram have been generating huge incomes for Government, according to Premier and Minister of Finance, Hon Andrew A. Fahie (R1).
The seven percent tax
Lorna M. George
There is an old adage that says, “God works in mysterious ways His wonders to perform”. My brothers and sisters who send our money to their native countries via transfer money services such as Money Gram and Western Union may have felt a bit disappointed when the government put a seven percent tax on money going out of the country.
‘We have nothing against anyone from Caribbean islands’- Premier Fahie
ROAD TOWN, Tortola, VI- With money transfer services not included in the list of essential businesses allowed to operate during the reopening phase of the Virgin Islands economy following a month of shutdown due to the COVID-19 pandemic, heaps of criticisms were thrown at the Government of the Virgin Islands by a large number of persons on social media.
Money transfer services not part of 'internal economy'- Premier Fahie
ROAD TOWN, Tortola, VI - Premier and Minister of Finance, Hon Andrew A. Fahie (R1) has indicated that for now, money transfer services will not be allowed to operate as part of phase one of the Virgin Islands (VI) economic reboot following a territory-wide lockdown due to the COVID-19 pandemic.
One Stop Mall broken into
ROAD TOWN, Tortola, VI- The popular One Stop Mall in Road Town, owned by Virgin Islands icon Patsy C. Lake, was broken into sometime last night, July 10, 2016.
New Western Union outlet opens in One Stop Mall
ROAD TOWN, Tortola, VI – One of two new Western Union outlets have opened in the One Stop Mall, bringing the total to four in the territory. The Western Union One Stop Mall on the Virgin Islands main island of Tortola was opened on December 19, 2015.
Western Union BVI under new management
ROAD TOWN, Tortola, VI - The Western Union Company, a leader in global payment services, today announced its remittance operations in the British Virgin Islands are now being offered by GraceKennedy Money Services (GKMS).As an authorized Western Union® Agent in eight other Caribbean Islands, GKMS has had a business relationship with Western Union with more than 20 years’ experience successfully managing this kind of business.