The British Virgin Islands recently issued a press release extending the reporting deadline for FIs from August 18, 2017 to September 1, 2017. This extension applies to FIs reporting under the CRS and UK CDOT agreements, and is being granted because the BVI Financial Account Reporting System (BVIFARS) is down as a result of a Tropical Wave that affected the territory last week.
About the Author
Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.More Content by Paul Ogawa