Regulatory Blog

On 29 January 2026, the British Virgin Islands International Tax Authority released updated lists for the Common Reporting Standard.

On 21 January 2026, the Cayman Islands Department for International Tax Cooperation announced an extension for certain reporting deadlines under the Amended Common Reporting Standard. This applies to Cayman Financial Institutions required to register and maintain information on the DITC Portal.

Cyprus has abolished stamp duty with effect from 1 January 2026 under Law 239(I)/2025. The Repeal Law was published in the Official Gazette on 31 December 2025 and repeals the prior Stamp Duty Laws of 1963 to 2025; instruments executed from commencement are no longer subject to stamp duty.

On 22 December 2025, the Plenary of the Cyprus House of Representatives approved a comprehensive tax reform package, which is marked as the most significant Cyprus tax development over the years. The new tax package was published in the Official Gazette of the Republic of Cyprus on 31 December 2025 and is effective from 1 January 2026.

The BVI Financial Investigation Agency (Returns) Order, 2025, has been published, introducing a structured framework for the submission of returns by Designated Non-Financial Businesses and Professions and Non-Profit Organisations. This Order, effective from 27 November 2025, clarifies reporting obligations and establishes a clear legal context for compliance. The Order, gazetted as Statutory Instrument No. 99 of 2025, formalises these requirements into law.

If you manage or operate a BVI limited partnership, you should take note of an important update from the BVI Financial Services Commission. On 19 November 2025, the FSC published Circular 41, which introduces the Limited Partnership (Financial Return) Order, 2025.

On 3 December 2025, the Department for International Tax Cooperation announced the activation of the Country-by-Country Reporting functionality on the DITC Portal. This functionality is effective as of 3 December 2025. This update is critical for Multinational Enterprise Groups with Cayman Islands Constituent Entities.

On 27 November 2025, the Cayman Islands published two pivotal regulations aimed at improving global tax transparency: the Crypto-Asset Reporting Framework and amendments to the Common Reporting Standard. Effective 1 January 2026, these regulations are designed to combat tax evasion and the misuse of virtual assets.

On 20 November 2025, the British Virgin Islands International Tax Authority announced that Economic Substance reporting obligations will transition from the Beneficial Ownership Secure Search System to the Virtual Integrated Registry Regulatory General Information Network portal. The ITA has confirmed that the new VIRRGIN ES filing portal is in its final stages of preparation and will be deployed for filings due in 2026.

On 10 October 2025, the EU Council updated its list of non-cooperative jurisdictions for tax purposes, maintaining the same 11 countries:

On 4 September 2025, the Court of Justice of the European Union issued a pivotal judgment in Case C-726/23, addressing the VAT implications of transfer pricing adjustments within multinational groups. This decision clarifies the VAT treatment of intra-group transactions and the evidentiary requirements for VAT deductions.

Reporting Financial Institutions and Non-Reporting Financial Institutions in the British Virgin Islands are required to comply with new Common Reporting Standard obligations by 30 September 2025.