Bahamas & BVI FATCA CRS Updates

BVI Posted CRS Video

The British Virgin Islands International Tax Authority (BVI ITA) posted the video from its live February 2024 program for investment entities subject to the Common Reporting Standard (CRS). The almost 2-hour video covers CRS due diligence procedures and reporting trust accounts, CRS filing requirements, CRS financial institution deactivation, and the BVIFARS payment portal. To watch on the BVI ITA website: https://bviita.vg/library/webinar/

Bahamas Announced Portal Dates

The Bahamas Competent Authority announced the FATCA and CRS portal will open for FATCA and CRS registration and submissions on Monday, July 8, 2024 at 9 AM ET. The portal will close on Friday, August 23, 2024 at 5PM ET. Once the portal closes, financial institutions can contact the Bahamas Competent Authority at helpdesk@taxreporting.finance.gov.bs or information@taxreporting.finance.gov.bs.

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