ARTICLE · 31 JANUARY 2024

BVIFARS Portal - Live January 2024

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From January 2024, all relevant entities with reporting obligations in relation to the United States ("US") Foreign Account Tax Compliance Act ("FATCA"), Organisation for Economic...

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From January 2024, all relevant entities with reporting obligations in relation to the United States ("US") Foreign Account Tax Compliance Act ("FATCA"), Organisation for Economic Co-operation and Development (the "OECD") Common Reporting Standards ("CRS") and Country by Country Reporting ("CbCr") (each as implemented in British Virgin Islands ("BVI") law) will have to pay an annual fee of US$185 to use the BVI Financial Accounting Reporting System ("BVIFARS") portal to submit FATCA, CRS and CbCr reports.

Starting 1 June 2024, payment must be made by 1 June each year through the BVIFARS portal by direct debit, Visa, ATH or Master Card.

Background – OECD Peer Review

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BVIFARS Portal - Live January 2024

Background – OECD Peer Review

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