Publication of the final version of the BVI's economic substance code of practice has been delayed by Hurricane Dorian, which prevented the House of Assembly's approval of the enabling legislation, the Beneficial Ownership Secure Search System (Amendment) No.2 Act 2019. The assembly will meet next week to pass the law into effect, after which the BVI International Tax Authority will circulate the final form of the code, which is already settled.
Our thoughts are with all STEP members who may be affected by Hurricane Dorian.