B virgin islands 2025

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The document is Form 720-B, an annual tax return for gross receipts in the U.S. Virgin Islands, specifically for businesses with gross receipts of $225,000 or less. It outlines the process for reporting gross receipts, calculating taxable amounts, and determining the tax due, which is set at 5% on receipts exceeding a monthly exemption of $9,000. The form includes instructions for filing, penalties for late submission, and details on business activity codes.

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What language do they speak in BVI?

The primary language spoken in the BVIs is English; the English-based Islands Creole, and Spanish, with English as the national and official language.

What currency does BVI use?

The official and most widely spoken language in the Islands is English. The literacy rate in the Islands is around 90-95%. It is common to hear French Creole and Spanish spoken, particularly on St. Thomas and St.