ARTICLE
23 October 2014

Japan – BVI TIEA Comes Into Force On 11 October

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.

Following the coming into force of the TIEA both Japan and the British Virgin Islands can exchange information in relation to tax matters within the framework of the TIEA.
British Virgin Islands Tax

Further to our previous bulletin, following the Notification Ceremony on 11 September the Tax Information Exchange Agreement (TIEA) between the Government of Japan and the Government of the British Virgin Islands will come into effect on 11 October 2014.

Following the coming into force of the TIEA both Japan and the British Virgin Islands can exchange information in relation to tax matters within the framework of the TIEA once a request has been made to one party by the other party. The TIEA enables the relevant tax authorities in both Japan and the British Virgin Islands to have greater ability to exchange information relating to tax purposes in accordance with internationally agreed standards set by the Organisation For Economic Co-Operation and Development.
 
More from the Government of the Virgin Islands can be found here.

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