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What about BVI? UK wants London exempted from global tax plan

- UK negotiating exemption over fears that global banks with headquarters in London could be affected
In what has raised eyebrows and more criticisms of hypocrisy, the United Kingdom (UK) is seeking to have the City of London exempted from a new global minimum corporation tax system championed by the Group of Seven (G7) economies. Photo: cityam.com
Deputy Premier and Minister for Education, Culture, Youth Affairs, Fisheries and Agriculture, Hon Natalio D. Wheatley (R7), has said the UK negotiating for the City of London to be exempt from the global tax plan, while not making any considerations for the VI, speaks of the type of ‘ modern partnership’ between the two. Photo: Facebook
Deputy Premier and Minister for Education, Culture, Youth Affairs, Fisheries and Agriculture, Hon Natalio D. Wheatley (R7), has said the UK negotiating for the City of London to be exempt from the global tax plan, while not making any considerations for the VI, speaks of the type of ‘ modern partnership’ between the two. Photo: Facebook
LONDON, United Kingdom- In what has raised eyebrows and more criticisms of hypocrisy, the United Kingdom (UK) is seeking to have the City of London exempted from a new global minimum corporation tax system championed by the Group of Seven (G7) economies.

According to Reuters, the negotiation is being done over fears that global banks with headquarters in London could be affected. Many major banks are headquartered in the City of London but generate more than half of their income elsewhere.

Double-standard & insensitive UK

While the G7 tax system, which is proposing a global minimum tax rate of 15%, is reportedly not expected to have significant impacts on the [British] Virgin Islands (VI), the move by the UK has exposed its double-standards and callousness for the VI and its Overseas Territories (OTs).

Despite the projected severe negative impact on the VI’s financial services industry, one of the two main pillars of the economy, the UK has been relentlessly pushing for its Overseas Territories to introduce public registers of company beneficial ownership and had threatened to do this by an Order in Council.

The UK; however, went against imposing the policy via the Order in Council after the OT’s threatened legal action and said the OTs will be given until 2023 to introduce public registers.

Publicising the names of these beneficial owners could discourage financial service clients from doing business with the VI.

The VI has maintained that it has no issues implementing public registers once it becomes a global standard.

‘Modern partnership they say!’- Dr Wheatley          

Meanwhile, Deputy Premier and Minister for Education, Culture, Youth Affairs, Fisheries and Agriculture, Hon Natalio D. Wheatley (R7), has said the UK negotiating for the City of London to be exempt from the global tax plan, while not making any considerations for the VI, speaks of the type of “partnership” between the two.

“I wonder whether they negotiated exemption for the BVI? We all know the answer to that one. Modern partnership they say...,” Dr Wheatley sarcastically wrote on his Facebook page today, September 12, 2021.

16 Responses to “What about BVI? UK wants London exempted from global tax plan”

  • @ The Most High Honorable Minister is this the one from Virgin Gorda I bow before you my lord and Master. (12/09/2021, 17:04) Like (4) Dislike (9) Reply
    The City of London, The Vatican and Washington D.C. have a special status do some research and enlighten us. What do we have..Nature's Little Secret...Yes we're Different or BVI Lowe.
    • ... (12/09/2021, 18:15) Like (5) Dislike (8) Reply
      stop tell lie the international rules apply to all places just yet another example of white oppressors and racist governors and the UK
  • WOW (12/09/2021, 17:46) Like (14) Dislike (8) Reply
    The UK are hypocrites
  • Hmmmm (12/09/2021, 17:50) Like (12) Dislike (10) Reply
    It is always only about the UK and their own interest which they don't have we Caribbean people in mind ever.
  • east (12/09/2021, 17:50) Like (13) Dislike (16) Reply
    One word can describe the UK ----- RACIST.
  • musa (12/09/2021, 18:10) Like (2) Dislike (8) Reply
    Uk officials need help and only the supreme lord blessings can make a difference .
  • Lavity (12/09/2021, 19:02) Like (1) Dislike (2) Reply
    KNEW THAT THEY ARE TOO , AND THERE WASN'T ANY ( COI ) FOR HIM OR AGAINST HIM / SO WHATS NEW
  • Imperfect servant of the "Most High" God (12/09/2021, 20:10) Like (8) Dislike (5) Reply
    Hon. Ministers Nataldo Wheatley, the B.VI is NOT a member of the G7. The UK is. If after they get what they are seeking the chose to include us as beneficiary they will. We cannot even hope to quate ourselves at their level. What the VIP government is doing is trying to stir up stife against the UK in order to score political points. It is definitely not going to work. If you and others think it will is because you have lied to yourselves. You all are fighting a losing battle. What you should do Minister is to guard your wicket from getting struck by a CoI bowled lball.
    The CoI probingl will continue onward to its conclusion. Mark my words.
    • @ imperfect servant of …. (13/09/2021, 02:56) Like (3) Dislike (2) Reply
      What does this article got to do with the vip?
  • BVIslander (12/09/2021, 20:52) Like (6) Dislike (5) Reply
    My people please wake up this is proof that the UK doesn't care about us they are only here for what they can get from us to make them Great people of the BVI please wake up stop been a sleep with your eyes wide shut
    • b.vislander, you are snoring. (13/09/2021, 00:07) Like (1) Dislike (5) Reply
      @ B.V. Islander: You are sleeping, wake up.
  • Rubber Duck (13/09/2021, 02:58) Like (5) Dislike (2) Reply
    Why you also surprised? this is 400 years of England and its history
  • LLM (13/09/2021, 13:55) Like (1) Dislike (0) Reply
    You'll should've Research the city of London before writing the piece and even commenting .....
  • WOW (13/09/2021, 13:57) Like (0) Dislike (0) Reply

    Every bull#$%% you can imagine not one intelligent contribution.

  • DID THEY ? (13/09/2021, 17:01) Like (0) Dislike (0) Reply
    LEAVE FROM THE UK AND COWER ME DOWN HERE TO CORRUPT THE PEOPLE WHO RUNNING THE BVI OR IS THE PEOPLE WHO RUNNING THE BVI DOING ALL BY THEMSELVES ? ( SIMPLE COMMON SENSE CAN ANSWER THAT QUESTION
  • tax who (13/09/2021, 18:11) Like (0) Dislike (0) Reply
    Why would we go along with this?

    Aren’t we tired of being bullied by the US & UK by the globalist agendas. This is like making cannabis illegal all over again. It’s a bad idea & social engineering disaster.

    Tax is simply milking humans to fuel wars & it sounds like slavery 2.0.

    We don’t want to pay for their bombs indirectly. It’s not our fault their tax rates are unattractive.

    When will this top down model of leadership end? G7 makes the plans and VI must follow?

    If higher taxes are that beneficial why are there many homeless people in those nations?


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