Premier and Minister of Finance Honourable Andrew A. Fahie has said that the International Business Company Act, 1984 which helped to establish the financial services industry in the British Virgin Islands has enabled the Territory to cement its position at the forefront of the global financial services market.

The Director of International Tax Authority, Ms. La Toya James is informing members of financial institutions and other stakeholders that the BVI Financial Accounts Reporting System is now back online and ready for use. 

Deputy Premier of the British Virgin Islands and Minister for Natural Resources, Labour and Immigration, Honourable Vincent O. Wheatley was in London last week to meet with international officials and various International Financial Centre (IFC) partners.

The Director of International Tax Authority Ms. La Toya James is informing members of financial institutions and other stakeholders that the BVI Financial Accounts Reporting System is not functional at this time. 

BVI Finance welcomes positive comments made by the UK Home Secretary reflecting the level of cooperation between UK and BVI law enforcement authorities, following a review into the implementation of the Exchange of Notes (EoN) on Beneficial Ownership information, 18 months after its initial introduction.

Virgin Islands Financial Institutions (VIFIs) are notified that the filing deadline for US FATCA and Common Reporting Standards for the 2018 reporting financial year has been extended to Wednesday July 31.

The size and scale of deals facilitated by the British Virgin Islands’ international business and financial centre has increased both in value and quality as the BVI reports its strongest incorporation numbers in three years.

Virgin Islands Financial Institutions (VIFIs) under the Common Reporting Standards (CRS) and Virgin Islands Constituent Entities (VICEs) for Country by Country Reporting (CBCR) are notified that the BVI Financial Account Reporting System (BVIFARS) is still in the process of being updated.

MONEY MATTERS BVI (the financial literacy programme at the BVI Financial Services Commission) will be hosting a Lunch & Learn event to address issues surrounding Wills and Estate Planning on Wednesday, May 15, from 1:00 p.m. until 3:30 p.m. at Financial Services Commission Training Centre.

BVI Finance is hosting education sessions for the private sector in Hong Kong and London, as well as in the BVI, following the publication of the draft Economic Substance Code by the International Tax Authority (ITA).