On 8 July 2019, the British Virgin Islands signed up to the Multilateral Competent Authority Agreement on the exchange of country-by-country (CbC) reports. A link to the list of signatories can be found here.
CbC reporting is required under the BEPS Project. The CbC report requires the disclosure by multinational entities (MNEs) of information in each country where the MNEs are based. More information can be accessed here.
See our previous bulletin on CbC reporting here.
The BVI International Tax Authority’s guidance can be found here.