The International Tax Authority is informing all relevant entities who are required to report under the Common Reporting Standards (CRS), Foreign Account Tax Compliance Act (FATCA) and Country-by-Country Reporting (CbCr) that effective September 1, 2022, the International Tax Authority intends to introduce in reference to each entity enrolled in the BVIFars Portal an annual fee of $185.

As a reminder, all relevant entities with reporting obligations are required to enroll in the BVIFars portal to satisfy their respective obligations in relation to FATCA, CRS and CbCr.

The intended fee covers enrolment in the portal, review, and transmission of reporting submissions to partner jurisdictions, support, and maintenance.

Further updates on the implementation of this fee will posted on our website: bviita.vg.