ARTICLE
27 September 2000

Termination of Double Tax Treaty

H
Harneys

Contributor

Harneys is a full-service offshore law firm offering expert legal advice on the laws of jurisdictions including the British Virgin Islands, Cayman Islands, Luxembourg, and more. Established in 1960, the firm has grown to 11 global locations with over 180 lawyers, serving top law firms, financial institutions, investment funds, and high-net-worth individuals. Harneys provides comprehensive legal support across transactional, contentious, and private client matters, often in collaboration with Harneys Fiduciary, which delivers corporate and wealth management services. Known for its role in shaping offshore jurisprudence, the firm also advises on legislative developments and excels in handling complex cross-border transactions and disputes.

British Virgin Islands Wealth Management

On 21 June 2000, the Government of Japan gave notice to the UK Government of its termination of the Territorial extension to the British Virgin Islands and Montserrat under the 1962 Convention between Japan and the UK. Termination is to be effective on 1 January 2001.

By way of background, the British Virgin Islands currently has two remaining double tax agreements, with Japan and Switzerland respectively. These are extensions of former UK treaties. The 1962 United Kingdom - Japan Treaty was extended to the British Virgin Islands to be retroactively effective from 1 January 1963. The 1954 United Kingdom - Switzerland Treaty was extended to be retroactively effective from 1 January 1961.

As of 1 January 2001, only the treaty with Switzerland will remain in force.

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