Press Release

INTERNATIONAL TAX AUTHORITY (ITA) TO HOST LIVE SEMINAR The International Tax Authority will host its next seminars to assist persons navigating the reporting obligations under the Common Reporting Standards on June 5th, 2024.Our focus during this seminar will be on Custodial Institutions, Depository Institutions, and Specified Insurance Companies. If you are the designated individual responsible for

NOTICE FROM THE INTERNATIONAL TAX AUTHORITY UPDATE TO RULES ON ECONOMIC SUBSTANCE  The latest update from the International Tax Authority regarding the Rules on Economic Substance (v4) as of 2 April 2024, has been released. This particular update focuses on Rule 5, and notably excludes the United Arab Emirates from the list of jurisdictions without

INTERNATIONAL TAX AUTHORITY (ITA) TO HOST LIVE SEMINAR FOR CUSTODIAL ENTITIES Are you a Custodial Entity subject to the reporting requirements under the Common Reporting Standards? Are you a person appointed to fulfill those obligations through the BVIFars Portal? If you’ve answered yes to these questions, join our team on April 24, 2024 and

Establishment of Ad hoc Committees and Invitation for Expressions of Interest The International Tax Authority is pleased to announce the establishment of several Ad hoc Committees aimed at fostering collaboration between the International Tax Authority and the Industry concerning cross boarder tax matters. The following Ad hoc Committee have been formed: FATCA & CRS;

International Tax Authority (ITA) To Host A Series Of Live Seminars  The International Tax Authority is excited to announce several upcoming seminars dedicated to assisting persons navigating the reporting obligations under the Common Reporting Standards. Each seminar will be designed to focus on the different categories of entities registered in the BVI Fars Portal

INTERNATIONAL TAX AUTHORITY (ITA) TO HOST  LIVE SEMINAR FOR CUSTODIAL ENTITIES Join us for the 2nd Seminar in our series, hosted by the International Tax Authority. The upcoming seminar is specifically designed for Custodial Entities who are required to report under the Common Reporting Standards (CRS). If you are the designated individual responsible for

NOTICE FROM THE INTERNATIONAL TAX AUTHORITY  Re: Update Of CRS Categorisation In The BVIFAR Portal     The International Tax Authority extends a sincere thank you to all entities with reporting obligations under the Common Reporting Standards (CRS) that have taken the initiative to update their CRS entity classification in the BVI Fars portal.  Following

NOTICE FROM THE INTERNATIONAL TAX AUTHORITY REGARDING  THE BVI FARS PAYMENT UPDATE    The International Tax Authority has received numerous inquiries regarding making payments through the BVI Fars portal.  We had initially aimed to go Live with the payment component in January 2024, but due to unforeseen circumstances, the deployment of the payment module

INTERNATIONAL TAX AUTHORITY (ITA) TO HOST LIVE SEMINAR FOR INVESTMENT ENTITIES Are you an Investment Entity subject to the reporting requirements under the Common Reporting Standards? Are you a person appointed to fulfill those obligations through the BVIFars Portal? Join our team as they provide an overview of: the new payment component of the

The International Tax Authority (“ITA”) would like to remind all authorized representatives making an application to alter a legal entity’s Financial Period (except its first financial period) that they should be guided by the requirements of Rule 18 of the Rules on Economic Substance. The application should be made by way of notice to