Virgin Islands Service Bureau Agreement - Alternative Format
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How to fill out Service Bureau Agreement - Alternative Format?
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FAQ
US social security (FICA) and self-employment taxes are imposed in the US Virgin Islands. Payments are remitted to the US mainland rather than to the Virgin Islands Bureau of Internal Revenue.
Hear this out loud PauseUS Virgin Islands is not a tax haven or offshore jurisdiction, but USVI companies (or corporations) could be established as "USVI Exempt Companies" with partial or full exemption from local and US federal income taxes.
In addition to collecting the territory's real property taxes, the Tax Collector's Office also issues property tax clearance letters, enforces real property tax payments, updates all real property tax collection records and manages the auction of properties that are delinquent in the payment of property taxes.
Hear this out loud PauseAn individual who qualifies as a bona fide resident of the U.S. Virgin Islands (or who files a joint U.S. return with a U.S. citizen or resident with U.S. Virgin Islands income) will generally have no U.S. tax liability so long as the taxpayer reports all income from all sources on the return filed with the U.S. Virgin ...
Although the BVI is known as a tax haven, the jurisdiction's strict adherence to the Economic Substance Act has helped to improve its reputation by ensuring that at least a majority of the business activities conducted are within the BVI.
INDIVIDUAL INCOME TAX Individuals who are bona fide residents of the Virgin Islands file Form 1040 with the Virgin Islands and pay tax on their worldwide income to the Virgin Islands.
Hear this out loud PauseFile a signed copy of your tax return (with all attachments, forms, and schedules, including Form 8689) with the Virgin Islands Bureau of Internal Revenue, 6115 Estate Smith Bay, Suite 225, St. Thomas, VI 00802. They will accept a signed copy of your U.S. return and process it as an original return.
Hear this out loud PauseUS Virgin Islands does not use a state withholding form because there is no personal income tax in US Virgin Islands.