British Virgin Islands Continues Suspension of Late Economic Substance Filing Penalties Due to System Issues

The British Virgin Islands International Tax Authority issued a notice on 19 May 2026 regarding the continued suspension of late penalties for filing using the Virtual Integrated Registry Regulatory General Information Network (VIRRGIN). As previously reported, economic substance filings are made through the Virtual Integrated Registry Regulatory General Information Network (VIRRGIN) from January 2026, replacing the Beneficial Ownership Secure Search System (BOSSs).

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Economic Substanc…