Solomon Islands Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

Central Bank of Solomon Islands Act, Ministry of Finance and Treasury

Primary Legislation

Companies Act 2009: For breaches related to illegal offerings of unregistered se, Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) Act 2002: The Fi, s powers and responsibilities, which include regulating the financial system and ensuring monetary stability. This Act forms the basis for the CBSI, There is no dedicated cryptocurrency or digital asset law in Solomon Islands; vi, The Legislation Act 2023 was preceded by the Legislation Bill 2023, which was ta, Virtual Asset Act,, The existing Immigration Act 2011, while not a financial law, indicates the type, The Legislation Act 2023 modernizes the parliamentary legislative process but do, The Legislation Act 2023, which came into effect to streamline how statutory ins, Parliament has not debated or passed any bill that would establish a VASP licens, No public ruling confirms whether the Solomon Islands Income Tax Act applies to, While the Constitution provides for the rule of law and Parliament's ability to, The Legislation Act 2023 demonstrates that Parliament is modernizing its legisla, Legislation Act 2023 - National Parliament of Solomon Islands

Travel Rule

Not adopted

Tax Reporting

Solomon Islands does NOT have a general Capital Gains Tax.. Therefore, any profits from the sale or disposal of cryptocurrency for individuals or businesses, if solely considered a capital gain, would likely not be subject to CGT as such a tax does not exist in the Solomon Islands.. However, this does not mean profits are entirely tax-free. If the activities involving cryptocurrency are deemed to constitute a "business" or if the profits are considered "income" under the Income Tax Act, they could be taxable under income tax provisions (see below).. Trading as a Business: If an individual is regularly buying and selling cryptocurrency with the intention of making a profit, and the scale and frequency of these activities resemble a business, the profits could potentially be classified as business income.. Employment Income: If an individual receives cryptocurrency as payment for services rendered or as part of their employment, the value of the cryptocurrency at the time of receipt would likely be treated as taxable income (similar to a benefit in kind).

Key Facts

Data collection in progress. This country's compliance facts are queued for research by our AI worker fleet. Check back soon or access data via MCP.