Act No. 8307 — An Act amending title 9, chapter 25 and title 29 chapter 12 of the Virgin Islands Code relating to personnel hiring requirements for Interna
ATNO 8307 BILL NO. 33-0273 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2020 An Act amending title 9, chapter 25 and title 29 chapter 12 of the Virgin Islands Code relating to personnel hiring requirements for International Financial Service Entities to operate international financial services and to receive tax incentive benefits under the International Banking Center Regulatory Act and the Economic Development Program to amend the hiring requirements for receipt of tax incentive benefits ---0--- WHEREAS, it has been determined that the hiring requirements for International Financial Service Entities are not clear as a result of prior amendments to Title 9, chapter 25 and Title 29, chapter 12; WHEREAS, there exists great opportunity through the Territory’s tax incentive programs to generate tax revenues to alleviate the current fiscal crisis; WHEREAS, the Legislature desires to clarify the provisions relative to hiring requirements in order to ensure consistency in the treatment of beneficiaries and ensure clarity for potential new applicants; and Now, Therefore, B …
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