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Extension of FATCA Deadlines for BVI Financial Institutions

This update supplements our previous alert of 3 November 2014 entitled “Impact of FATCA on BVI entities” and our alert of 23 April 2015 entitled “FATCA – Impending Deadlines for BVI Financial Institutions”. Please refer to those alerts for a recap of the provisions of FATCA and the equivalent UK regime (commonly referred to as “UK FATCA”) and for an overview of the actions to be taken by BVI Reporting Financial Institutions (“BVI RFIs”) in 2015, including their enrolment and reporting obligations.

Extension of FATCA enrolment and reporting deadlines for 2015

The deadlines for BVI RFIs to enrol with, and report to, the BVI International Tax Authority (the “BVI Tax Authority”) have been extended.

Specifically:

    (i) the deadline to enrol with the BVI Tax Authority has been extended to 30 June 2015; and
    (ii) the deadline for submitting a report to the BVI Tax Authority has been extended to 31 July 2015.

 

To continue reading full articles in PDF format:
Extension of FATCA Deadlines for BVI Financial Institutions

 


Robert J.D. Briant
Partner, Head of BVI Corporate

British Virgin Islands, Cayman Islands   +1 284 852 1100


Anton Goldstein
Partner

British Virgin Islands   +1 284 852 1119


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Alerts

Extension of FATCA Deadlines for BVI Financial Institutions

This update supplements our previous alert of 3 November 2014 entitled “Impact of FATCA on BVI entities” and our alert of 23 April 2015 entitled “FATCA – Impending Deadlines for BVI Financial Institutions”. Please refer to those alerts for a recap of the provisions of FATCA and the equivalent UK regime (commonly referred to as “UK FATCA”) and for an overview of the actions to be taken by BVI Reporting Financial Institutions (“BVI RFIs”) in 2015, including their enrolment and reporting obligations.

Extension of FATCA enrolment and reporting deadlines for 2015

The deadlines for BVI RFIs to enrol with, and report to, the BVI International Tax Authority (the “BVI Tax Authority”) have been extended.

Specifically:

    (i) the deadline to enrol with the BVI Tax Authority has been extended to 30 June 2015; and
    (ii) the deadline for submitting a report to the BVI Tax Authority has been extended to 31 July 2015.

 

To continue reading full articles in PDF format:
Extension of FATCA Deadlines for BVI Financial Institutions

 


Robert J.D. Briant
Partner, Head of BVI Corporate

British Virgin Islands, Cayman Islands   +1 284 852 1100


Anton Goldstein
Partner

British Virgin Islands   +1 284 852 1119