Act No. 8936 — An Act amending title 9 Virgin Islands Code, subchapter II to establish the money transmission fee and the Money Transmission Revolving Fund
ACTNO.8 9 36 BILL NO. 35-0390 THIRTY-FIFTH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2024 An Act amending title 9 Virgin Islands Code, subchapter II to establish the money transmission fee and the Money Transmission Revolving Fund per | Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Title 9 Virgin Islands Code, subchapter II is amended by adding section 518 as follows: “§ 518. Money Transmission Fee; Money Transmission Revolving Fund (a) Any licensee under this subchapter shall collect a fee of 3% of the gross amount of each money transmission that originates within the Virgin Islands and terminates outside the United States, its territories, consulates, embassies, or military installations. (b) Not later than 10 days after the last day of the calendar month during which the fees are collected, the licensee shall remit the fee to the Virgin Islands Bureau of Internal Revenue (“VIBIR’”), on forms provided by the VIBIR. …
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