The International Tax Authority (the “ITA”) wishes to inform all Virgin Islands Financial Institutions and Constituent Entities that the British Virgin Islands Financial Account Reporting system (“BVIFARs”) is still under maintenance in preparation to accommodate the OECD’s new version 2.0 schema.
As mentioned in the 29 December 2020 Notice, configuration will be undertaken on BVIFARs up to 5th February 2021. Please note that maintenance is still underway and upon completion the ITA will issue an update on the re-opening of the Portal.
All FI’s and constituent entities are reminded that any reporting obligations, must be in compliance with the OECD version 2.0 schema when the Portal returns online. The Portal will no longer accept version 1.0 filings.
For further information, questions or concerns please feel free to contact us via the following means: telephone number: 1 284 343 4415, email address: Info@bviita.vg
The International Tax Authority has created a web-based portal to provide a secure environment for BVI Financial Institutions to satisfy their obligations under the Agreement between the Government of the British Virgin Islands and the Government of the United States of America to Improve Tax Compliance via the Foreign Account Tax Compliance Act (US FATCA), the Agreement between the Government of the British Virgin Islands and the Government of the United Kingdom to Improve International Tax Compliance (UK CDOT) and the Arrangement under the Common Reporting Standards (CRS).
BVI and US FATCA – Competent Authority Agreement
BVI and UK CDOT – Competent Authority Agreement
BVI and Guernsey – Competent Authority Agreement
BVI and Isle of Man – Competent Authority Agreement
CRS Multilateral Competent Authority Agreement