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12 March 2024

BVI ITA Publishes Its Lists Of CRS Participating Jurisdictions And Reportable Jurisdictions For 2024

H
Harneys

Contributor

Harneys is a full-service offshore law firm offering expert legal advice on the laws of jurisdictions including the British Virgin Islands, Cayman Islands, Luxembourg, and more. Established in 1960, the firm has grown to 11 global locations with over 180 lawyers, serving top law firms, financial institutions, investment funds, and high-net-worth individuals. Harneys provides comprehensive legal support across transactional, contentious, and private client matters, often in collaboration with Harneys Fiduciary, which delivers corporate and wealth management services. Known for its role in shaping offshore jurisprudence, the firm also advises on legislative developments and excels in handling complex cross-border transactions and disputes.

On 5 February 2024, the BVI International Tax Authority (ITA) published its updated Common Reporting Standards (CRS) lists of Participating Jurisdictions and Reportable Jurisdictions for 2023.
British Virgin Islands Tax

On 5 February 2024, the BVI International Tax Authority (ITA) published its updated Common Reporting Standards (CRS) lists of Participating Jurisdictions and Reportable Jurisdictions for 2023. Both lists were gazetted on 8 February 2024.

Participating Jurisdictions

New additions to the CRS list of Participating Jurisdictions: Bulgaria, Costa Rica, and Saint Kitts and Nevis.

Reportable Jurisdictions

New additions to the CRS list of Reportable Jurisdictions: Bulgaria, and Saint Kitts and Nevis.

CRS was developed by the Organisation for Economic Co-Operation and Development (OECD) and approved as the global standard for Automatic Exchange of Information (AEOI). A significant number of countries have committed to its implementation. On 17 February 2024, the OECD published the updated list of countries and their status of commitment to AEOI, which can be found here.

The CRS list of Participating Jurisdictions can be found here.

The CRS list of Reportable Jurisdictions can be found here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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