BVI FATCA & CRS Deadline Extended

The British Virgin Islands (BVI) International Tax Authority (ITA) announced its Common Reporting Standard (CRS) and FATCA reporting deadline is now extended from May 31, 2021 to June 30, 2021.

Previously, the ITA had announced scheduled interruptions during January and February 2021 to its BVI Financial Account Reporting system (BVIFARs) to make system changes to accommodate the CRS version 2.0 schema. The ITA took BVIFARs down again from March 10, 2021 through March 16, 2021 for additional system maintenance.

Given the difficulty some users had in submitting nil reports and uploading XML files because of the system downtime and BVIFARs technical issues, the ITA extended the reporting deadline for both CRS and FATCA. The portal is now open and the ITA believes all technical issues have been resolved. However, if you do encounter problems, you may contact the BVIFARs team by telephone number at: 1 284 343 4415 or by email at: Info@bviita.vg.

For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com.

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