ARTICLE
17 June 2016

BVI Extends FATCA Reporting Deadlines

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.

The statutory deadline of Tuesday, May 31 for US FATCA reporting obligations has been extended to Friday, June 17.
British Virgin Islands Tax

The statutory deadline of Tuesday, May 31 for US FATCA reporting obligations under the agreement between the Government of the United States and the Government of the British Virgin Islands to improve tax compliance and to implement FATCA has been extended to Friday, June 17.

The International Tax Authority (ITA) of the Ministry of Finance of the Government of the Virgin Islands has informed all BVI Financial Institutions (BVIFIs) that have not already submitted their filings for 2014 and 2015, to take advantage of the extended deadlines and ensure that all relevant reportable accounts are reported no later than June 17, 2016.

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