China Daily: Virgin Islands rejects 'tax haven' label

Hong Kong, June 29, 2017 - The recent article "Virgin Islands Rejects 'Tax Haven' Label" published by China Daily featured Elise Donovan, Director of BVI House Asia, following an interview regarding the launch of the report - "Creating Value: BVI's Global Contribution", undertaken by Capital Economics, an independent economics consultancy, analyses the significant global economic contribution of the BVI. 

The China Daily article highlights the misunderstanding in the industry about "the BVI as a tax haven". The BVI is tax neutral, meaning the territory does not levy an additional layer of tax on business transacted through the jurisdiction. According to the newly released Capital Economics Report, the BVI has no banking secrecy rules and is not a center for corporate profit shifting. 

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