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British Virgin Islands: Tax developments in response to COVID-19

General Information

This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).

The content will be updated on a regular basis. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.

Date accurate as of: 27 April 2020

  • The ITA has been advised by the Internal Revenue Service (IRS) of the United States of America that FACTA filing deadlines have been extended. As such, all BVI FI’s are advised that filings and enrollments has been extended.
  • The ITA has decided to extend the enrolment deadline to 31st July 2020 for FATCA and to extend the filings deadline for FACTA to 31st August 2020. 
  • Although there is no indication of a general extension of filing and enrollment deadlines for CRS, the ITA has decided to also extend the enrolment deadline for CRS to the 30th June 2020, and the CRS deadline for filing to 31st July 2020.
  • BVI FIs are advised that screenshots must be sent along with an explanation of the problems being faced so that these encountered concerns can be adequately and appropriately addressed. Kindly place in the subject box of the email the words, “BVIFARs Filing Concern”.

Additional Information