The Government of the Virgin Islands has commissioned the extension of the BOSSs platform to allow for declarations to be made in line with the Economic Substance requirements in the Virgin Islands. All legal entities must make these declaration via their Registered Agents as ONLY Registered Agents have access to the BOSS(ES)s portal. For further information on Economic Substance please visit our Economic Substance page which can be found under EOI>Spontaneous Exchange of Information>Economic Substance.
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 on Friday 12 June, 2020. All RA’s and Legal Entities are reminded that the deadline to file declarations is six months after the end of the Financial Period of the legal entity. The prescribed financial