The Government of the Virgin Islands has implemented Base Erosion and Profit Shifting (BEPS) Action 13, Country by Country Reporting by way of amendment to the Mutual Legal Assistance (Tax Matters) Act, 2003 (MLA) in section 14 of Act No. 8 of 2018 where a new Part IV has been inserted in the MLA.  

BVI Financial Institutions (BVIFIs) are being informed that the BVI Financial Account Reporting System (BVIFARS) will be offline on Friday, April 28.

BVI Financial Institutions (BVIFIs) are reminded of their annual reporting obligations for US FATCA, UK CDOT and CRS. 

The International Tax Authority (ITA) is informing the BVI Financial Account Reporting System users that the system will not be available until February 15.

All British Virgin Islands (BVI) Financial Institutions are notified that the BVI Financial Account Reporting System (BVIFARS) is now available. 

The statutory deadline of Tuesday, May 31 for US FATCA reporting obligations under the agreement between the Government of the United States of America and the Government of the British Virgin Islands to improve tax compliance and to implement FATCA has been extended to Friday, June 17.

BVI Financial Institutions (BVIFIs) are notified that the BVI Financial Account Reporting System (BVIFARS) will be ready to accept UK CDOT or UK FATCA filings by Monday, May 2. 

The Government of the Virgin Islands remains committed to ensuring that financial institutions in the Territory adhere to established international standards. 

The Government of the Virgin Islands, through the BVI International Tax Authority of the Ministry of Finance is informing the public that a template has been prepared for the Self Certification Forms required under the United States of America and United Kingdom FATCA Agreements.