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Newsletter | Articles BVI changes IBC tax The BVI Government has decided to increase the annual government tax charged on IBCs from the current USD300 per annum to USD350 per annum with effect from 1 January 2005. If you have not yet been invoiced for your annual renewal, this will be at the new rate. If you have been invoiced for a January renewal at the old rate, you will be reinvoiced at the new rate. All new incorporations will have government tax charged at the new rate. Please address any questions to any ILS office or to our BVI office.