BVI (British Virgin Islands)

What is exactly meant by employee category ‘Director, musician, entertainer etc’?

This category is especially created for fees paid to Directors of a company, musician, entertainers, artists etc. This category ensures that the fees paid e...

Modified on: Tue, 11 Apr, 2023 at 5:25 PM

What is exactly meant by employee category ‘Pensioner’?

This category is especially created for paid pension benefits that are not taxable.

Modified on: Tue, 11 Apr, 2023 at 5:25 PM

Is it possible to switch off application of the USD 10.000 tax-free allowance?

It is possible to switch off the appication of the USD 10.000 tax-free allowance.  Go to Employees, choose an employee and go to the 'Taxes and Prem...

Modified on: Mon, 6 Nov, 2023 at 12:18 PM

What does 'IRD-approved' exactly mean in Pension premium or Pension plans?

When a pension plan is IRD-approved it means: 1) the EE contribution is tax deductible and 2) the ER contribution is untaxed When a pension plan is IR...

Modified on: Thu, 21 Mar, 2024 at 2:18 PM