Announcement follows years of tax evasion scandals involving BVI shell companies
The government of the British Virgin Islands has finally committed to introducing public registers of beneficial ownership for companies incorporated in the tax haven.
The announcement, made in the islands’ parliament, comes after years of tax evasion and money laundering scandals, in which shell companies incorporated in the territory regularly played a central role.
Great news that @BVIGovernment has announced it will join all other Overseas Territories by committing to adopt publicly accessible registers of business owners by 2023.
This is a strong signal of the UK family's commitment to tackle the global problem of illicit finance. pic.twitter.com/GiCCq9egJ8