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Revenues from money transfers dropped in 2022 compared to 2021– Premier
ROAD TOWN, Tortola, VI – The Government of the Virgin Islands earned less from money transfer revenues in 2022 compared to 2021, according to Virgin Islands Premier and Minister of Finance, Dr the Hon Natalio D. Wheatley (R7).
Hon Fahie: Gov’t ‘definitely looking into’ 7% remittance tax
ROAD TOWN, Tortola, VI- Premier and Minister of Finance Honourable Andrew A. Fahie (R1) has revealed that his administration is still reviewing the 7% tax on all monies leaving the Virgin Islands through money transfer services like Western Union and MoneyGram.
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.
Quiet reopening of money transfer services in VI
ROAD TOWN, Tortola, VI - For the first time since the start of the phased reopening of the Virgin Islands (VI) following the COVID-19 lockdown, local money transfer services like Western Union and MoneyGram opened their doors for service today, May 11, 2020, this time, with the new 7% levy on funds sent out of the Territory.
HoA debates bill for Gov't to charge 7% fee on money transfers
DUFFS BOTTOM, Tortola, VI – A 7% transaction fee, 7 cents of every dollar sent overseas through money transfer providers, will be deducted when the bill entitled 'Financing and Money Services (Amendment) Act, 2020' comes into law.
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