BVI Notice on Application for Exclusion from Reporting Obligations for Qualifying Local Companies, Including in Relation to Economic Substance

The British Virgin Islands International Tax Authority has issued a notice regarding applications for exclusion from reporting obligations for qualifying local companies, including in relation to economic substance.

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NOTICE!

The International Tax Authority ("ITA") is informing the public that under the International Tax Authority (Amendment) Act, 2023 ("ITA Act") local companies can now make an application of exclusion directly to the ITA. Under the ITA Act:

• "local company" means an…