The Inland Revenue Department is reminding property owners in the Virgin Islands that in accordance with the Property Tax Ordinance, Cap 207 (as amended), Property Tax for the year 2024 is due and payable from September 1 to November 30.

The public is advised that effective December 1, 2023, taxpayers will be required to submit their Payroll Tax, Self-Drive Motor Vehicle (Rentals) Tax  and Hotel Accommodation Tax (HAT) returns electronically.

Madam Speaker, I am pleased to be able to update this Honourable House on a major milestone for our tax administration system in the Virgin Islands which is targeted to go live by the end of this month.

The Standard Integrated Government Tax Administration System (SIGTAS 3.0) is scheduled to go live by the end of this month.

Premier and Minister of Finance Honourable Dr. Natalio Wheatley has announced that the Standard Integrated Government Tax Administration System (SIGTAS 3.0) is scheduled to go live by the end of September.

Individuals and businesses are reminded to register for the Standard Integrated Government Tax Administration System (SIGTAS 3.0).

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.

On December 30^th, 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.

The public is advised that the Inland Revenue Department has upgraded to the Standard Integrated Government Tax Administration System to allow taxpayers greater access and flexibility for online payments, via the Government e-payment gateway.

The Inland Revenue Department is seeking to improve its database to allow taxpayers greater access and flexibility.