BVI To Share Tax Information With Poland And Croatia
by Mike Godfrey, Lowtax.net, Washington
29 August, 2017
The British Virgin Islands' International Tax Authority has added Croatia and Poland to the list of reportable jurisdictions it will exchange tax information with on an automatic basis.
This means financial Institutions in the British Virgin Islands are obliged to collect information on their Polish and Croatian account holders, and to report this information to the International Tax Authority who will then exchange this information with the relevant authorities in Poland and Croatia. The due date for reporting this information is September 1, 2017.
The obligation for BVI financial institutions to report information on their foreign account holders arises out of the territory's signing of the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, and the Multilateral Competent Authority Agreement. These treaties oblige signatory jurisdictions to facilitate exchange of tax information as part of the global push to crack down on tax evasion. The International Tax Authority is the territory body charged with fulfilling the British Virgin Islands' treaty obligations.
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