The International Tax Authority (ITA) is advising the BVI Financial Services Industry that Guidance Notes to compliment the legislative changes made to the Mutual Legal Assistance (Tax Matters) Act, 2003 by way of Act No. 8 of 2018 is now available.

The Government of the Virgin Islands today outlines its action plan in response to a European Union (EU) initiative that seeks to address concerns that some countries are engaging in potentially harmful tax competition with EU member states. 

The International Tax Authority is informing all BVI Financial Institutions that it has updated its list of Reportable Jurisdictions and the updated list is applicable to the reporting period January 1 to December 31, 2016.

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