Beautiful Virgin Islands

Tuesday, Jun 24, 2025

We’re a tourism haven, not a tax haven - Premier

We’re a tourism haven, not a tax haven - Premier

Premier and Minister of Finance & Tourism, Andrew Fahie has argued that the BVI continues to be mislabeled as a tax haven, despite efforts over the years to reverse this reported misrepresentation.
“Let’s not forget the OECD‘s (Organisation for Economic Co-operation and Development). I would say not an ‘attack’, but [it has placed] emphasis on the taxes because they tried to brand us as a tax haven which we are not. We are a tourism haven, but not a tax haven,“ the Premier said at a recent press conference.

He said that over the past three-and-a-half decades, the BVI has built a financial services sector that it is very proud of.

“We have one of the best mechanisms to detect financial crimes,” he said while noting that the BVI was able to assist the United Kingdom’s National Crime Agency in solving one of its biggest financial crimes using the Beneficial Ownership Secure System (BOSS) and other systems that it has.

Premier Fahie also claimed that the BVI is one of the best-regulated territories that is in the financial services business.

He said countries that do business in the BVI are taxed where they are. And if any profits are made, these are also taxed before they are returned.

“So, it is false information that has been able over the years to take root,” Premier Fahie stated.

The Premier said that on his recent visit to the UK, he scheduled numerous press interviews in order to change this narrative and get the BVI‘s story out.

“For too long we have let the other side get out there and to the international world, it seems like that other side is the truth,” he stated.

He again disputed the narrative carried by a UK paper that he was trying to help the BVI to seek independence since this is a decision that needed to come from the people of the BVI.

“Our job as leaders is to prepare the people of the Virgin Islands to be able to be in a position to handle whatever next political step that they would make,” he stated.

The Premier said the BVI has seen some very trying times over the years, including the 2008 economic downturn, two category five hurricanes in 2017, and now the challenges of the global pandemic.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×