BVI publishes draft FATCA Guidance Notes


In the latest moves towards implementation of the FATCA Intergovernmental agreements (IGAs) signed by the BVI with the US and the UK, the BVI Government has released draft Guidance Notes for public consultation. A copy can be accessed from the Ministry of Finance website.

The draft Guidance Notes have been published in advance of FATCA workshops presented by the Government in consultation with KPMG and Harneys. The workshops will take place on Tuesday, 29 July and Thursday, 31 July. Prior registration for the workshops is required by contacting Tashia Turnbull at Government on +1 284 468 2090 or  

In a separate but related development, the House of Assembly is scheduled to debate amendments to the Mutual Legal Assistance (Tax Matters) Act, 2003 (MLAT) at a sitting on Tuesday, 22 July. It is proposed that the passage of a Bill for the Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2014 will be expedited with all three readings likely to take place on Tuesday. MLAT is the existing legislation under which Tax Information Exchange Agreements (TIEAs) are implemented. The MLAT Amendments are expected to make provision for the automatic exchange of information under the IGAs with the Minister having power to issue Guidance Notes.

Written by:

Published In:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Harney Westwood & Riegels | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.