Notices

ITA Notices

Offices Closed to the Public

The International Tax Authority would like to inform the public that due to the rise in Covid-19 cases in the Territory, effective from July 8th, 2021, our office will be closed to the public until further notice. Any information to be submitted including responses in relation to EOIR or Economic Substance should be submitted

2021-07-08T10:33:27-04:00July 8th, 2021|News, Notices, Press Release|

BVIFars & Filing Update

The International Tax Authority (the “ITA”) wishes to extend its apology to Portal users, as over the last few weeks we have received queries concerning the BVIFars Portal. We are cognizant that this issue had affected some Portal users with respect to nil filings and XML uploads. Our Team had been working diligently on

2021-04-20T10:48:18-04:00April 20th, 2021|News, Notices, Press Release|

BVIFARS Online

The International Tax Authority (the “ITA”) wishes to inform all Virgin Islands Financial Institutions (“VIFI”’s) and Constituent Entities that the British Virgin Islands Financial Account Reporting system (“BVIFARs”) has returned online as. We express our apologies for the inconvenience caused over the last week, however; we thank you for your patience and understanding. For

2021-03-16T14:26:09-04:00March 16th, 2021|News, Notices, Press Release|

BVIFARS Offline: System Maintenance

The International Tax Authority (the “ITA”) wishes to inform all Virgin Islands Financial Institutions (“VIFI”’s) and Constituent Entities that the British Virgin Islands Financial Account Reporting system (“BVIFARs”) will be temporarily offline for maintenance purposes.Please visit our website at https://bviita.vg/ under the “News” tab or contact our Office for an update on when the System

2021-03-10T09:58:28-04:00March 10th, 2021|News, Notices, Press Release|

BVIFARS Online: For version 2.0 XML Schema filings

The International Tax Authority (the “ITA”) wishes to inform all Virgin Islands Financial Institutions (“VIFI’s”) and Constituent Entities that the British Virgin Islands Financial Account Reporting system (“BVIFARs”) is now accessible. All VIFI’s and constituent entities are reminded of the filing deadlines. They are as follows: For Foreign Account Tax Compliance Act (“FATCA”) and Common

2021-02-23T13:24:39-04:00February 12th, 2021|News, Notices, Press Release|

BVIFARS Offline: Update to Version 2.0 Schema

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

2021-02-05T16:21:04-04:00February 5th, 2021|News, Notices, Press Release|

BVIFARS Offline: Update to Version 2.0 Schema

The International Tax Authority (the “ITA”) wishes to inform all reporting entities and constituent entities that the British Virgin Islands Financial Account Reporting system (“BVIFARs”) will be under maintenance in preparation to accommodate the OECD’s new version 2.0 schema. BVIFARs will be offline and therefore inaccessible from 31st December 2020 to 7th January 2021. BVIFARS

2020-12-29T20:27:48-04:00December 29th, 2020|News, Notices, Press Release|

BVIFARs Offline for Maintenance

The International Tax Authority (ITA) wishes to inform all Virgin Islands Financial Institutions (VIFI’s) and all Constituent Entities with reporting obligations, that the BVI Financial Account Reporting System (BVIFARs) will be offline and therefore inaccessible from Wednesday 11th November 2020 to Friday 13th November 2020 for maintenance purposes. Thanking you in advance for your patience

2020-11-11T12:21:45-04:00November 11th, 2020|News, Notices, Press Release|

BVIFARs Offline

The International Tax Authority (ITA) wishes to inform all Virgin Islands Financial Institutions (VIFI’s) that the BVI Financial Account Reporting system (BVIFARs) remains offline due to the relocation process of our office. In this regard, the ITA is cognizant that Financial Institutions may have attempted to file submissions via BVIFARs and was unsuccessful.  Therefore, please

2020-08-25T16:26:22-04:00August 25th, 2020|News, Notices, Press Release|

Closure & Relocation Of ITA – UPDATE

The International Tax Authority is informing the public that the office will be closed until further notice as it is still in the process of relocating. Please be reminded the BVIFars portal will be inaccessible during this time. For further information and updates, visit our website at bviita.vg.

2020-08-13T13:20:16-04:00August 13th, 2020|News, Notices|

BVI Financial Account Reporting System

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).

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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

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