Ports board

On Jan. 25 the Cabinet appointed Walford Farrington, Kevin Fahie, Linnell Abbott, and Helen Anne Lewis to serve three-year terms on the BVI Ports Authority board. Jennifer Potter-Questelles was appointed to chair the board for three years.

VISAR event

The Virgin Islands Search and Rescue base station at Road Reef will host its first sponsor appreciation soiree from 5:30-7:30 p.m. on Feb. 11. The event is for VI businesses, whose representatives will get guided tours of VISAR’s newly renovated base station. For more information or to register, call 494-4357 or e-mail visarbvi@gmail.com.

Reporting standards

Government released a statement last week explaining new information that financial institution will have to provide due to an amendment to the Mutual Legal Assistance (Tax Matters) (Amendment) (No. 2) Act 2015, which came into effect on Jan. 1. All reporting financial institutions will be required to provide the following information by April 3: the name of the institution; the categorisation of the institution as determined in accordance with the Common Reporting Standards; and the full contact details of individuals authorised by the institution to be the point of contacts for all purposes of compliance with the CRS. For more information, call the International Tax Authority at 468-4415.

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