BVI: File FATCA returns before 29 December 2016 | KPMG | GLOBAL

British Virgin Islands: File FATCA returns before 29 December 2016

BVI: File FATCA returns before 29 December 2016

The tax authority of the British Virgin Islands announced the temporary closure of the BVI Financial Account Reporting System, from 29 December 2016 until February 2017. During this period, FATCA returns cannot be filed.

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BVI financial institutions will need to use the IRS’s new FATCA XML schema v2.0 from 2017 onwards, and thus need to consider completing any pending filings in BVIFARS before 29 December 2016, to avoid having to refile as per the new schema.

 

Read a December 2016 report [PDF 61 KB] prepared by the KPMG member firm in the BVIs

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