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News2024-03-11T09:35:49-04:00

Establishment of Ad hoc Committees and Invitation for Expressions of Interest

April 5th, 2024|Categories: Notices, Press Release|

Establishment of Ad hoc Committees and Invitation for Expressions of Interest The International Tax Authority is pleased to announce the establishment

Request For Financial Period Alterations

January 25th, 2024|

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

International Tax Authority (ITA) To Host Live Seminar For Investment Entities

January 22nd, 2024|

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? As a responsible person reporting in the BVIFars Portal, you must stay up to date with the ever-evolving regulatory landscape, and we understand that

The BVI FARS Payment Portal Will Be Going Live Soon!!!

December 6th, 2023|

The International Tax Authority is pleased to announce that the BVIFars payment portal will Go Live in January 2024!!! As a reminder, all relevant entities with reporting obligations are required to enroll in the BVIFars portal to satisfy their respective obligations in relation to FATCA, CRS, and CbCr. When is the annual

Local Filings

October 31st, 2023|

The International Tax Authority (“ITA”) is informing the public that under the International Tax Authority (Amendment) Act, 2023 (“ITA Act”) local companies can now make an application of exclusion directly to the ITA. Under the ITA Act:  “local company” means any company or limited partnership who is resident for tax purposes in

BVI Financial Account Reporting System

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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BVI and US FATCA – Competent Authority Agreement BVI and UK CDOT – Competent Authority Agreement BVI and Guernsey – Competent Authority Agreement BVI and Isle of Man – Competent Authority Agreement CRS Multilateral Competent Authority Agreement

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