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 British Virgin Island’s response to global warming and its engagement with the EU on Financial Services were stated recently during meetings of the Overseas Countries and Territories Association (OCTA) and European Union (EU).
The Financial Services Implementation Unit (FSIU) is ensuring that the BVI Forward campaign designed to further strengthen the financial services sector, has support on both sides of the House of Assembly.
Financial Secretary Mr. Neil Smith has updated Financial Institutions on the new amendment to the Mutual Legal Assistance (Tax Matters) Act, 2003 which incorporates the Common Reporting Standards (CRS).
The Financial Services Implementation Unit (FSIU) in partnership with the Ministry of Education, is pressing ahead with plans to strengthen financial services education in the Territory to improve the future industry related skills of the BVI workforce.
The Government of the Virgin Islands has sought further clarification from the European Union (EU) on the inclusion of the Territory and a number of Overseas Countries and Territories (OCTs) associated with the European Union on a pan-EU blacklist of non-cooperative tax jurisdictions published earlier this year.
The Financial Services Implementation Unit (FSIU) is partnering with the education community to identify ways for young people to be better prepared to capitalise on opportunities in the financial services industry.
The Financial Services Implementation Unit (FSIU) is now collecting important data from businesses that will shape the future development of the financial services industry.
