British Virgin Islands: Fee implementation update for BVIFars portal
The tax authority announced that the BVIFars payment portal will be live in January 2024.
The tax authority announced that the BVIFars payment portal will be live in January 2024.
The tax authority of the British Virgin Islands (BVI) on 6 December 2023 announced that the BVIFars payment portal will be live in January 2024.
The tax authority reminds taxpayers that all entities with reporting obligations are required to enroll in the BVIFars portal to satisfy their respective obligations for FATCA, the common reporting standards (CRS), and country-by-country (CbC) reporting.
According to the announcement, an annual payment of $185 will apply to each entity enrolled in the BVIFARs portal, with a deadline of 1 June 2024, and annually thereafter to maintain portal access. However, entities with valid pending de-registrations before 1 January 2024 are exempt from the payment. The portal allows entities to pay using Direct Debits, Visa, ATH, and Master Card.
Read a December 2023 report [PDF 359 KB] prepared by the KPMG member firm in the British Virgin Islands
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