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44 chapters · 597 sections in this title.
33 V.I.C. § 21 Imposition of the tax
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(a) A tax computed as provided in section 22, shall be imposed upon the transfer during a calendar year by any individual, resident or nonresident, of property by gift, which property has its situs in the Virgin Islands. (b) The tax shall apply whether the transfer is in trust or…
33 V.I.C. § 22 Computation of tax
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The tax for each calendar year shall be an amount equal to a tax computed in accordance with the rate schedule set forth:Rate ScheduleIf the net gifts are:The tax shall be(1)On all net gifts from husband to wife, from wife to husband, from ascendants to decend- ants, or from chil…
33 V.I.C. § 23 Transfer for less than an adequate and full consideration
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Where property is transferred for less than an adequate and full consideration in money or money's worth, then the amount by which the value of the property exceeded the value of the consideration shall, for the purpose of the tax imposed by this chapter, be deemed a gift, and sh…
33 V.I.C. § 24 Net gifts
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(a) Definition. The term “net gifts” means the total amount of gifts made during the calendar year, less the deductions provided in section 25. (b) Exclusions from gifts. In the case of gifts (other than of future interests in property) made to any person by the donor during the …
