The British Virgin Islands Government has today announced the
conclusion of negotiations with the United States on a Model 1
Intergovernmental Agreement (IGA) under the US Foreign Account Tax
Compliance Act (FATCA).
In a statement the Ministry of Finance of the BVI
Government said the final text of the agreement has been initialled
paving the way for its imminent signing and
implementation. The initialling of the agreement comes after
several months of dialogue with the US Treasury. The final
text of the IGA will be published after the document is
formally signed, a process that is expected to take a further
week or two.
The BVI is expected to put into place shortly the final legal
and administrative procedures to facilitate, as well as issue
guidance notes on, the implementation of the IGA.
