Act No. 8205 — An Act amending title I JA of the Virgin Islands Code by adding a new chapter 8 requiring that businesses offer at least two payment options
820 5 BILL NO. 33-0098 THIRTY-THIRD LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2019 An Act amending title I JA of the Virgin Islands Code by adding a new chapter 8 requiring that businesses offer at least two payment options to their customers, and matters related thereto ---0--- WHEREAS. resident and visiting consumers in the Virgin Islands are limited and inconvenienced by the lack of payment options offered by businesses; WHEREAS, one of the biggest challenges facing the Government of the Virgin Islands is the fight against tax fraud; WHEREAS, the prevention of tax fraud is a battle that requires technological tools and a clear legal framework that promotes and encourages the transparency of commercial transactions: WHEREAS, the objectives of transparency and security in commercial transactions with electronic money tend to improve economic relations; WHEREAS, a more consistent and predictable payment system contributes to greater efficiency and less litigation, which in turn, allows the consumer to achieve greater control over possible losses due to fraud: WHEREAS, confide …
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