Changes to the BVI Mutual Legal Assistance (Tax Matters) Act, 2003

The BVI Mutual Legal Assistance (Tax Matters) Act, 2003 (the “Act”) was further amended in October 2018, creating country-by-country reporting (“CbCR”) obligations for BVI companies that are part of multinational groups, as well as new CRS obligations for BVI Financial Institutions. The country-by-country reporting obligations are time-sensitive with a 31 December deadline that is likely to affect many BVI entities.

Download our memo for a detailed briefing on the changes.