BVI FATCA Report Deadline Extended
by Mike Godfrey, Lowtax.net, Washington
22 June, 2016
The British Virgin Islands Financial Account Reporting System can now be used by financial institutions.
The announcement from the BVI Government follows interruptions to the service last week.
The Reporting System is a web-based portal to enable BVI financial institutions to send the data required under the Foreign Account Tax Compliance Act, which will then be shared with the Internal Revenue Service. As a result of the technical issues, the previous FATCA reporting deadline of June 17 has been pushed forward to June 30.
There will be no change to the July 29 deadline for reporting information to be transmitted to the UK tax authority under its FATCA-like pact with the BVI.
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