The Government of the British Virgin Islands has recently published two Bills (the Bills) which were read in the House of Assembly last month. One seeks to set a compulsory retirement age for workers in the Territory, while the other seeks to increase the current rate of hotel accommodation tax to bring it in line with other premier holiday destinations in the Caribbean.
The Compulsory Retirement Age Act 2016 seeks to set the compulsory retirement age for all workers in the Territory at an age no less than 65 years. This would align the minimum age for compulsory retirement with the age workers in the Territory become entitled to an age benefit under the social security regime.
The Hotel Accommodation (Taxation)(Amendment) Act 2016 seeks to increase the current hotel accommodation tax from seven to ten per cent.
Although not yet in force, publication of the Bills is the first step in the legislative process to bring these amendments into effect. The Bills require two more readings in the House of Assembly, where amendments may be made, and if passed, final versions will be published in the Official Gazette with details of when they come into force.
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