BVI Extends Both FATCA & CRS Deadlines
Given the IRS extension for foreign government FATCA reporting, the British Virgin Islands (BVI) has extended its FATCA registration and reporting deadlines.
Although there is not a similar globally agreed extension to CRS government to government reporting, the BVI decided to also extend its CRS registration and reporting deadlines.
The BVI International Tax Authority (ITA) is also amenable to additional extensions on a case-by-case basis. To request such an extension, the Financial Institution’s Primary User should contact the ITA at email@example.com outlining:
Name of jurisdiction
“Peculiar” reasons impacting the filing
Why an extension is being sought