ITA Press Releases
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) is back online effective Tuesday 01st September 2020. All VIFI’s should note that filings for CRS (where extensions were previously granted upon receipt of valid reasons)
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
The International Tax Authority is informing the public that the office will be closed from August 6th to 14th, 2020, as it prepares to relocate. Regular operating hours will resume at Peace House, located on Pickering Road, from August 17th, 2020. Due to the relocation, the BVIFars portal will be inaccessible after July 31st, 2020.
The International Tax Authority (the “ITA”), wishes to inform all Registered Agents (“RA’s”) and Legal Entities with reporting obligations under the Economic Substance (Companies and Limited Partnerships) Act, 2018 and the Beneficial Ownership Secure Search System Act, 2017 that Economic Substance Portal as integrated with the Beneficial Ownership Secure Search system (“BOSS(ES)s”) has gone live
The International Tax Authority is informing Entities that with the recent updates to the BVIFARS, users can now update necessary information via BVIFARS such as changing the details of the primary user or deregistering an entity. Additionally, Entities that are required to report for Country-by-Country (Constituent Entities that are UPE or SPE and are resident
On 18th March 2020, the International Tax Authority (ITA) via a Press Release activated its Business Continuity Plan (BCP) considering the Global Pandemic. As the ITA is still obliged to comply with its international obligations, by the required deadlines; the deadlines for enrolment and filing with regards to FATCA and CRS were not adjusted (i.e.
The International Tax Authority (“ITA”) following the announcement made by the Government is activating its business continuity plan during the coronavirus (COVID-19) pandemic. As a result, the ITA expects to maintain its operational frameworks and meet its international obligations. Confidentiality and data safeguards remain critical for the ITA’s functioning and strict security measures will continue
