For FI deactivation- Example- If the FI had reportable/ no reportable account previously. However, the entity is liquidated in 2022 with no reportable accounts but still not deregistered till 2023. Is TY2023 reporting required given that the entity is liquidated in 2022 or should we go ahead with the deactivation of the entity on the BVIFARS without filing TY2023 reporting.
The last applicable tax year of an entity that is liquidated in 2022 would be the TY ending in 2022. There is no need to file a report for 2023. You can proceed with the deregistration application once all reports have been made from registration of the entity until the last applicable tax year i.e.