The BVI International Tax Authority (the "ITA") has
announced that, with effect from March 2020, it is accepting
electronic filings for Country-by-Country Reporting
("CbCR") in accordance with Section 38 of the Mutual
Legal Assistance Tax Matters Act, 2003 (the
"Act").
The Mutual Legal Assistance Tax Matters (Amendment) Act 2018
(the "Amendment Act") introduced CbCR in the BVI,
essentially implementing, under the Act, the model legislation
published pursuant to the OECD's Base Erosion and Profit
Shifting Action 13 Report (Transfer Pricing Documentation and
Country by Country Reporting) (the "OECD Report").
Country-by-Country Reporting
Pursuant to the OECD Report and the Amendment Act, qualifying
multinational enterprises ("MNE") are required to
report certain financial information annually for each tax
jurisdiction in which the MNE operates in order to promote greater
transparency for tax authorities in participating jurisdictions by
making reliable
