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:

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:

Fee Implementation Update

Wednesday, 18 May 2022 - 11:51am

The International Tax Authority is informing all relevant entities utilizing the BVIFars Portal that the intended annual fee for use of the portal, will be implemented later this year and not September 1, 2022, as previously stated.

International Tax Authority to Introduce Portal Fees September 1

Friday, 11 February 2022 - 3:50pm

The International Tax Authority is informing all relevant entities who are required to report under the Common Reporting Standards (CRS), Foreign Account Tax Compliance Act (FATCA) and Country-by-Country Reporting (CbCr) that effective September 1, 2022, the International Tax Authority intends to introduce in reference to each entity enrolled in the BVIFars Portal an annual fee of $185.

BVI Premier Reiterates Territory’s Commitment To An Appropriate Framework For Publicly Accessible Registers

Tuesday, 22 September 2020 - 12:15pm

Premier and Minister of Finance of the British Virgin Islands (BVI), Honourable Andrew A. Fahie, has reiterated the support of the Territory’s Government for working with the United Kingdom Government (UKG) towards implementation of a publicly accessible register of beneficial ownership for companies, “in line with international standards and best practices as they develop globally,” with certain reservations.

BOSSs Portal Update

Friday, 4 September 2020 - 4:52pm

The International Tax Authority (“ITA”) is pleased to notify all Registered Agents (“RAs”) of the latest release of the BOSS(ES) portal, which provides additional functionality to the ITA. For RAs requiring change(s) to previously submitted declarations, we are now able to reopen the filed declarations.

International Tax Authority Remains Closed

Thursday, 13 August 2020 - 9:23am

The public is informed that the International Tax Authority will be closed until further notice as they are still in the process of relocating.

BVI Beneficial Ownership Secure Search System Is Best-In-Class

Wednesday, 15 July 2020 - 9:49am

The Beneficial Ownership Secure Search system (BOSSs) continues to place the Virgin Islands on the cutting edge of beneficial ownership information exchange with the capability of responding to requests in real time.

Boss(Es)S Portal Has Gone Live!

Friday, 26 June 2020 - 5:32pm

The International Tax Authority (ITA) is informing all Registered Agents (RA’s) and Legal Entities with reporting obligations under the Economic Substance (Companies and Limited Partnerships) Act, 2018 and the Beneficial Ownership Secure Search System Act, 2017 that the Economic Substance Portal as integrated with the Beneficial Ownership Secure Search system (“BOSS(ES)s”) has gone live from today  June 12.