Update Of CRS Categorisation In The BVIFAR Portal

Tuesday, 26 March 2024 - 2:15pm

The International Tax Authority extends a sincere thank you to all entities with reporting obligations under the Common Reporting Standards (CRS) that have taken the initiative to update their CRS entity classification in the BVI Fars portal.

International Tax Authority (ITA) To Host A Series Of Live Seminars

Friday, 8 March 2024 - 1:48pm

The International Tax Authority is excited to announce several upcoming seminars dedicated to assisting persons navigating the reporting obligations under the Common Reporting Standards.

International Tax Authority (ITA) To Host Live Seminar for Investment Entities

Friday, 19 January 2024 - 11:05am

Are you an Investment Entity subject to the reporting requirements under the Common Reporting Standards?

The BVI FARS Payment Portal To Go Live

Wednesday, 6 December 2023 - 12:30pm

The International Tax Authority is pleased to announce that the BVIFars payment portal will Go Live in January 2024!!!

Update CRS Categorization In The BVIFAR Portal

Wednesday, 15 November 2023 - 2:21pm

BVIFARs users who have a reporting obligation under the Common Reporting Standards (“CRS”) are being asked to ensure that they have accurate and up-to-date information in the portal.

Local Companies Filings

Wednesday, 1 November 2023 - 9:36am

The International Tax Authority (“ITA”) is informing the public that under the International Tax Authority (Amendment) Act, 2023 (“ITA Act”) local companies can now make an application of exclusion directly to the ITA. Under the ITA Act:

Almost there! Fee Implementation Update

Friday, 26 May 2023 - 3:35pm

It’s been a while since we announced the new annual fee for Financial Institutions (FI’s) enrolled in the BVI Fars portal, however, we’re still on track for 2023.

Tax Identification Number (TIN) Update

Friday, 26 May 2023 - 3:11pm

On December 30th, 2022, the United States Internal Revenue Service (“IRS”) released Notice 2023-11 (the “2023 Notice”) for foreign financial institutions (“FFI”) in jurisdictions with a Model 1 Intergovernmental Agreement (“IGA”) in place.

Notice for Financial Institutions on Economic Substance Requests

Friday, 4 November 2022 - 10:56am

The International Tax Authority is informing all Financial Institutions that  effective November 7th, 2022 all requests relating to Economic Substance such as re-openings, financial period change requests and responses to non-relevant activity  should be sent to the email address: Compliancerequests@bviita.vg.

Virgin Islands Financial Institutions (VIFI)

Thursday, 3 November 2022 - 4:49pm

The International Tax Authority would like to remind all Virgin Islands Financial Institutions (VIFI) of the following:

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