International Tax Authority (ITA) To Host Live Seminar For Investment Entities
INTERNATIONAL TAX AUTHORITY (ITA) TO HOST LIVE SEMINAR FOR INVESTMENT ENTITIES Are you an Investment Entity subject to the reporting requirements
Request For Financial Period Alterations
The International Tax Authority (“ITA”) would like to remind all authorized representatives making an application to alter a legal entity’s Financial
International Tax Authority (ITA) To Host Live Seminar For Investment Entities
Are you an Investment Entity subject to the reporting requirements under the Common Reporting Standards? Are you a person appointed to
Tax Identification Number (TIN) Update
On December 30th, 2022, the United States Internal Revenue Service (“IRS”) released Notice 2023-11 (the “2023 Notice”) for foreign financial institutions (“FFI”) in jurisdictions with a Model 1 Intergovernmental Agreement (“IGA”) in place. This Notice follows prior relief issued by the IRS in 2017, 2019, and 2021 that offered limited relief and additional
Updated Economic Substance Rules
The International Tax Authority (“ITA”) is pleased to announce that the updated Rules about the Economic Substance requirements under the Economic Substance (Companies and Limited Partnerships) Act, Revised Edition 2020 (as amended) (“ESA”) and the Beneficial Ownership Secure Search System Act, Revised Edition 2020 (as amended) (“BOSSs Act”), is now available on its
Economic Substance Request email
The International Tax Authority is informing all Financial Institutions that effective November 7th, 2022 all requests relating to Economic Substance such as re-openings, financial period change requests, and responses to non-relevant activity should be sent to the email address: Compliancerequests@bviita.vg.
Almost there! Fee implementation Update
The BVIFARs Portal fee implementation is on track for 2023. There has been a slight shift in the deadline with the portal now scheduled to go live before the end of the 1st quarter 2023! Once the portal becomes live further details about the following will be provided: process for making payment