Madam Speaker, a few sessions ago I came before this house and give a statement on the Foreign Account Tax Compliance Act (FATCA) and the effects that it would have on the Government and the people of the Virgin Islands. In this statement I described briefly the rationale behind FATCA and how it would be expected to affect the industry and private citizens here in the Virgin Islands.

Madam Speaker, after fully analyzing the nature, scope and contents of the US Foreign Account Tax Compliance Act (FATCA) and the United Kingdom’s version of the same (referred to as “the UK FATCA”), I am pleased to announce that the Government of the Virgin Islands has decided that in concert with concluding negotiations leading to an Agreement with respect to the UK FATCA as a matter of prior

Earlier this week, Member of the House Assembly of the Virgin Islands, Hon. Julian Fraser, issued a statement on matters largely concerning the US Foreign Accounts Tax Compliance Act (commonly known as “FATCA”).

Madame Speaker, in previous meetings of this honourable house I indicated that I would give regular updates on the status of our negotiations with the United States on the Foreign Account Tax Compliance Act or FATCA as it is commonly referred to.

On December 2, 2014, Accountant General, Dr Sandra M Besson, tendered her resignation to the department of Human Resources, giving the public service the requisite three months' notice and citing her decision as one that is personal.

The Government of the Virgin Islands is grateful to Dr Besson for her dedicated service to effective public service delivery and the management of the Territory's fiscal resources.