We very well know, that there changes that are happening now and happened already (amendments to the BVI ACT, more here) and we also know that such changes will continue to happen.
These changes are not a bad thing, in reality it is a good thing! These jurisdictions simply strive to comply with the International Transparency Standards, by implementing the new changes, and by doing so, these jurisdictions remain an option for us.
More about the background of the global transparency changes you can read here )
Seychelles is one of the jurisdictions that introduces changes, in fact a whole new IBC Act 2016, which in turn replaces the existing Act 1994 (Old Act). The National Assembly of Seychelles approved the IBC Act 2016 (New Act) on 26th of July, 2016, and it is in force as of 1st of November, 2016.
During the 7th Global Forum, when so many jurisdictions came together and signed the first ever multilateral competent authority agreement (MCAA) to automatically exchange information, commitments were made to implement the new standard on Automatic Exchange of Information (more here).
With commitment to maintain the jurisdictions competitiveness and with the intention to stay compliant with the International Transparency Standards, the BVI Government introduced amendments to the act. The BVI Business Companies (Amendment) Act 2015 was enacted in the House of Assembly on December 21, 2015.
There are many different taxes, both “once upon a time” and “nowadays”
I like this one, nowadays there are so many glass houses, wonder what they would pay in taxes?!
Window tax was introduced in England and Wales in late 17th century. Houses then were taxed depending on the number of windows they had. France and Scotland also introduced similar taxes. This tax, obviously, led to some architectural, social and cultural changes during the time it was in force. Like then like now, people would do what they can to reduce the tax, so for less tax, they would have to reduce number of windows. In England there are still houses with bricked up windows.. Later the tax was referred as tax on light and air and caused some health problems, following which it was abolished.
You can see here, google street view, a street still with bricked up windows in several places
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