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  • Article

    BVI Invites Consultation On OECD Pillar 2 Implementation

    Analyse existing data to categorise entities, assessing tax issues and compliance burdens in the BVI.
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI ITA Releases Economic Substance Rules

    The International Tax Authority (ITA) in the British Virgin Islands (BVI) has now released the Rules on Economic Substance (the Rules) which provides guidance on the interpretation
    British Virgin IslandsTax
    O'Neal Webster
    O'Neal Webster
Article

BVIFARS Reopened And Updated CRS Reportable Jurisdictions List Published

The BVI International Tax Authority ("ITA") has confirmed that the British Virgin Islands Financial Account Reporting System ("BVIFARS") has now been reopened following closures due to hurricanes Irma and Maria and is accepting both Common Reporting Standard ("CRS") and US Foreign Account Tax Compliance Act ("FATCA") filings
British Virgin IslandsTax
Maples Group
Maples Group
  • Article

    Mandatory Annual Fee And Reporting Procedures For FATCA, CRS, And CbCr In The BVI

    On 6 December 2023, The BVI International Tax Authority (ITA) announced that the BVI Financial Accounting Reporting System (BVIFARS) payment portal will go live in January 2024...
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI Publishes Its List Of Reportable Jurisdictions

    On 11 May 2017, the British Virgin Islands (BVI) published its list of Reportable Jurisdictions for the Common Reporting Standards (CRS).
    British Virgin IslandsWealth Management
    Harneys
    Harneys
  • Article

    BVI And Cayman Removed From Italy's Tax Blacklist

    On 1 April 2015 the British Virgin Islands (BVI), Cayman Islands and 19 other jurisdictions were removed from Italy's blacklist of jurisdictions.
    British Virgin IslandsWealth Management
    Harneys
    Harneys
  • Article

    BVI ITA Publishes Its Lists Of CRS Participating Jurisdictions And Reportable Jurisdictions For 2024

    On 5 February 2024, the BVI International Tax Authority (ITA) published its updated Common Reporting Standards (CRS) lists of Participating Jurisdictions and Reportable Jurisdictions for 2023.
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI Joins EU Whitelist

    On 18 February 2020, the Economic and Financial Affairs Council announced that the British Virgin Islands (BVI) has moved to the ...
    British Virgin IslandsTax
    Appleby
    Appleby
  • Article

    British Virgin Islands Reinstated To EU's List Of Cooperative Jurisdictions For Tax Purposes

    We are pleased to announce that following a meeting of the European Union's Economic and Financial Affairs Council on October 17, 2023, the British Virgin Islands (BVI)...
    European UnionTax
    O'Neal Webster
    O'Neal Webster
  • Article

    Economic Substance Rules Released For The British Virgin Islands

    In response to the requirements of the EU Code of Conduct Group (the Code of Conduct Group), from 1 January 2019 the British Virgin Islands implemented new legislation setting
    British Virgin IslandsCorporate/Commercial Law
    Ogier
    Ogier
  • Article

    BVI Financial Institutions Now Able To Register With The IRS For A GINN

    The US Internal Revenue Service made provision for Financial Institutions in jurisdictions that have already reached an "agreement in substance".
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI Government Increases Taxes On Hotel Accommodation, Tobacco And Alcohol

    The Government of the British Virgin Islands has recently enacted two revenue-increasing measures. One raises the tax on alcohol and tobacco, and the other on hotel accommodation.
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI Government Signs Model 1B IGA In Relation To FATCA

    The BVI Government has signed a Model 1B Intergovernmental Agreement in relation to the US Foreign Account Tax Compliance Act.
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    Update To BVI Economic Substance Rules: Important Update For Entities Claiming Non-Residence Via UAE Corporate Income Taxes

    On 2 April 2024, the BVI International Tax Authority (ITA) published version four of its economic substance rules and explanatory notes (the Rules)...
    GlobalTax
    Harneys
    Harneys
  • Article

    BVI Signs TIEA With Japan

    The British Virgin Islands government entered into its twenty-sixth tax information exchange agreement with the Government of Japan on 18 June 2014.
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI Country-By-Country Reporting Guidance Released And Updated CRS Guidance Notes

    Further to our previous updates, the BVI ITA, on 19 February 2019, published guidance notes on the CbCR requirements of entities that are resident in the BVI and updated guidance notes on the OECD's CRS.
    British Virgin IslandsAccounting and Audit
    Maples Group
    Maples Group
  • Article

    BVI Economic Substance Act 2020 & Beneficial Ownership Secure Search System Act 2020

    BVI Economic Substance (Companies and Limited Partnerships) Act, Beneficial Ownership Secure Search System Act and Related Rules and Regulations...
    British Virgin IslandsCorporate/Commercial Law
    Conyers
    Conyers
  • Article

    BVI Automatic Exchange Of Information Registration And Reporting Deadlines

    The government of the British Virgin Islands has recently clarified the filing deadlines under the various automatic exchange of information regimes in a number of bulletins and press releases.
    British Virgin IslandsFinance and Banking
    Maples Group
    Maples Group
  • Article

    A Comparative Study On CRS And FATCA: British Virgin Islands

    The Common Reporting Standard (CRS) is the standard for the automatic exchange of financial account information produced by the OECD, which provides for exchange of client due diligence (CDD) information between various jurisdictions.
    British Virgin IslandsTax
    Harneys
    Harneys
  • Article

    BVI Update To The Economic Substance Rules

    The Economic Substance (Companies and Limited Partnerships) Act, as amended (the "ESA"), requires BVI legal entities which engage in relevant activities to maintain economic substance in the BVI.
    British Virgin IslandsTax
    Walkers
    Walkers
  • Showing 21–40 of 111 results

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