BVI ITA extends FATCA enrolment and reporting deadlines

On 15 April 2015 the British Virgin Islands International Tax Authority (ITA) officially opened the BVI Financial Account Reporting System (BVIFARS) for the purpose of receiving FATCA returns. Originally, all BVI Reporting Financial Institutions (BVI Reporting FIs) were required to enroll with BVIFARS by 1 June 2015 and then submit their 2014  FATCA returns to the ITA through BVIFARS by 30 June 2014.
 
Yesterday, June 1st 2015, the ITA announced the enrolment deadline for BVI Reporting FIs has been extended to June 30, 2015 and the deadline for submitting first returns through BVIFARS has been extended to July 31, 2015.
 
BVIFARS 
 
If you have any questions or would like to discuss what is required further, please reach out to your usual Ogier contact.

On behalf of your BVI Investment Funds Team.