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ARTICLE · 30 MAY 2017

BVI AEOI Update – CRS Deadlines and BVIFARS Opening

Maples Group
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The Government of the British Virgin Islands ("BVI") has recently announced an extension to the deadlines for the notification and reporting obligations under the Common Reporting Standard ("CRS").

British Virgin IslandsFinance and Banking
Richard May
Richard May
Christopher Capewell
Christopher Capewell
Tim Dawson
Tim Dawson
Tim Frawley
Tim Frawley
Patrick Head
Patrick Head
Martin Livingston
Martin Livingston
Alasdair Robertson
Alasdair Robertson
James Turner
James Turner
Tahir Jawed
Tahir Jawed
+5 more
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Common Reporting Standard

The Government of the British Virgin Islands ("BVI") has recently announced an extension to the deadlines for the notification and reporting obligations under the Common Reporting Standard ("CRS").  Under the extended deadlines for CRS, all BVI Reporting Financial Institutions now have until 30 June 2017 to enrol with the BVI International Tax Authority (the "ITA") via the BVI Financial Account Reporting System ("BVIFARS") and to report their reportable accounts via BVIFARS by 31 July 2017.

US FATCA

With respect to US FATCA, the enrolment and reporting deadlines remain unchanged.  Accordingly, the enrolment and reporting deadlines for US FATCA are as follows:

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