BVI BEPS Country-by-Country Reporting

The Government of the BVI has begun implementing the requirements from the “Transfer Pricing Documentation and Country-by-Country Reporting, Action 13 – 2015 Final Report” (the “Report”), published by the Organisation for Economic Co-operation and Development (“OECD”).

Publication of legislative amendments
The BVI is a member of the OECD’s Inclusive Framework on Base Erosion and Profit Shifting (“BEPS”), which brings together over 100 jurisdictions to collaborate on the implementation of the OECD BEPS Package. All OECD and G20 countries have committed to implementing Country-by-Country Reporting (“CbCR”).

On 4 October 2018, the Mutual Legal Assistance (Tax Matters) (Amendment) Act, 2018 (the “2018 Amendment”) was published in the BVI Official Gazette. The 2018 Amendment introduces the new requirements of CbCR to the BVI as required by the Report. The BVI International Tax Authority (“ITA”) is the relevant competent authority.

 

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