MoneyGram & Western Union Tax Subject Broached

BVI Platinum News | 16 Comments
July 26, 2018 10:02 am AST
Photo Credit: BVI Platinum News
To tax or not to tax the remittance expatriates living in the Territory send home—that is a question that Minister for Health and Social Development, Hon Ronnie Skelton said should be broached in the future.

The Minister, who raised the subject during the continuation of the House of Assembly on July 25, said that there is a misconception that the amendment Government set out to do on the Money Services legislation was aimed at taxing the monies residents send home to their families each month via MoneyGram and Western Union.

Comments on whether such a tax should be implemented has been ongoing for many years in informal discussions. In fact, the conversations prevailed privately following the September devastation, as persons commented on Facebook about the long lines of residents waiting to send money home as soon as it was possible to do so.

However, the Health Minister announced that he does not support such a tax move. Hon. Skelton while debating the amendment to the Money Service legislation said, “The Money Service Bill, to me this amendment is not about Western Union or MoneyGram and people sending monies out. I hear the complain that we should tax the money going out, but Madame Speaker I take a view, whether wrong or right, that that money is already taxed.”

In further elaborating his disagreement with the call for remittances to be taxed, Hon. Skelton said, “When the people work they pay Social Security, PAYE, all of these things.”

He posited that if government was ever to seek revenue via tax, that this would be not be the appropriate approach.

“The approach that we need is probably a different approach because they’re sending their money to feed their families and so I don’t think that it is the right approach.”

The Minister further explained that a balance is needed.

“They need to contribute, we need to make our money circulate in our society…so that it can have a maximum benefit…but that’s another topic Madame Speaker; and the Money Services Bill does not cover that so we will deal with that later.”
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16 Comments
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Stormy Days
the DEVIL IS VERY BUSY AROUND US HERE NOW,BEFORE WE LIVE LIKE A FAMILY,GO AWAY TO THERE HOME AND BRING BACK THINGS FOR OR FAMILY AS WELL ,NOW TODAY THEY WANTED TO SKIN THE CAT FOR WHAT IS THERS ,This is like the spoiled kid with no behavior.no respect for each other.
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Stormy Days
they been taxed so many time,Goverment needed not to tax again.
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The Driver
They already paying taxes on the money they earn, why pay a second tax.
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Concerned
I am speechless. If you tax moneys going out you will lose it all. We are not talking about the down island people here that would mean that also companies can not move any money through the BVI since it would have to be taxed when leaving. Just calling out Money Gram and other companies like that will not be possible and can be circumvented with just doing money-transfers from Bank to Bank. You will be practically stepping back about 50 years or more if you want to implement anything like that and give the Financial Services Industry the last blow.
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Mango
Lord o god man we work hard for our money now you all want to tell us how to spend it really ,we are not kids
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Misty
Hmmm Did they not realise that the expat circulate more money in the bvi than locals. Eg. The locals go to st. Thomas to shop expats too but in a smaller percentage compare to locals 2. Online shopping..most locals do that hardly expat.. health care locals go somewhere overseas whilst the expat support peebles. Local produces expat purchase those more than local. So do a survey and see who circulate more money in the beautiful bvi.
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Lord O
More monies were circulating before they impliment the Visa for Caribbean people.. Their children use to come for Christmas for August They had to feed them and clothes them when they are here. Do they realize how much money the economy lose.. They parsnts now have to send money home and instead of their children coming they have to back to their country to see their kids.. They need to check their policies they made hastily..
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It'S About Time
Tax it backside yes
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Mango
Really like you don’t have a heart hmm
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Family
God will deal with you... selfish and and heartless...
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Barbs
Hon. Skelton: You know better. They already paying taxes on the money they earn, why pay a second tax. While I understand where you're coming from this may put some families in further distress.
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Strupes
man everything this Gov't want to tax.... It's the people money if they want to send money back home or not. Some of these people are the breadwinners in their so leave the people alone dammit. This Gov't only want to harass the poor people and help their rich friends get richer, sick of ayo man
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Reader
I agree with the fact that the money is indeed already taxed so there is no way another tax should be added on to peoples hard earned money. However, in relation to having the money being circulated back into our society I believe that is where food, rent, utilities and other services the consumers utilizes goes back into circulation, not to mention the annual renewal or permits and BVI visas, plane tickets etc., what more is required of the hard working people in the BVI expats or not.
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Well Sa
What they are not realizing is that the other Islands are picking up with a speed and if the "down Island man" would go back home becuase of the hardship these people are putting forward in this country everyday things would turn brown. Fly your kites now. Dont they realize that the developments here are from the forieners; black or whites cant you see? And still the slave masters still want more? Ungreatfulness is worst than witchcraft. Trust companies, hotel workers, workers at Marinas, builders, Teachers, Nurses, Doctors, firemen, police men, people who function at the forefront of the tourism industry, ect...... you name it the expacs are the one pushing. If there wasnt forieners there realy wouldnt be a need for imigration , some of the officers wouldnt have a job. Visas wouldnt be needed, to build the economy, permits wouldnt be issued and the list goes on. Just tired of the unfairness in this place. Black will always be blacks they gave their people away and are still doing to this present day. You work hard and unfairely sometimes for your little money and still they dictating to people how to use their earned money too. Stupes! 😑
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REALLY!!!!!
You're taxing me by forcing me to contribute to NHI, and preventing me from feeding my family, but that doesn't seem to concern you.
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Faithful
They paying their fair share of payroll tax already
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