Are there intentions to make any amendments to the legislation, seeing that there will be additional reporting requirements?

The legislation will be updated, however, please note as discussed, the additional fields are not required on filing the declaration.

Damari Malone2026-01-22T10:13:36-04:00January 22nd, 2026|ECONOMIC SUBSTANCE|

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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