Robert Briant, Partner at Conyers Dill & Pearman law firm, said that he does not believe that the US tax policy in the plan will impact the BVI’s position as a leading international finance centre.
Speaking at a recent lecture series at the college, Briant stated that lowering the tax rate will have implications but it will have implications for tax treaty jurisdictions.
"They are the ones with large base, hiring staff, physical presence to support the long term profit...But the BVI, Cayman Islands, we do not have tax treaties with the U S we have tax exchange, but no tax treaties. No one said the BVI is taking advantage of lower tax, it says zero tax," Briant stated.
He said that the lowering of the tax rate will have little or no implication on our businesses.
Briant said that while his comments may come seem selfish, he does not see the BVI being affected.
- Source: BVIHotpress.com