The British Virgin Islands (BVI) has been removed from the European Union (EU) list of non-cooperative jurisdictions for tax purposes on October 17th, 2023. The EU press release states: “British…
In the United States, US tax compliance is not only an obligation for businesses but also a key aspect of maintaining financial integrity. Below, we detail the various tax obligations…
We are pleased to inform you that the government of the Republic of Panama has enacted Law No. 401 on October 5, 2023 which establishes a special temporary measure providing…
BVI accounting requirements - Amendments to the BVI Business Companies Act 2020 and the BVI Business Companies Regulations came into force on January 1st, 2023. These amendments reflect the BVI's…
Updated August, 30th Dear Client, The Panama Tax Authority (DGI) has extended the deadline for updating all changes including new mandatory fields to the Tax Payer Identification Number (RUC) to October 31st,…
Accounting Records / Panama New Legislation. Hazel JaramilloHead of Client Accounting Serviceshjaramillo@omcgroup.com From the moment you decide to start operating a company, it is necessary to be prepared for the…
Accounting records requirements (Panama) | The Law 52 of 2016, which establishes the obligation to keep accounting records requirements for certain legal entities, through Law 254 of November 11, 2021, introduced important amendments for…
Anti Money Laundering law is an issue addressed by Panamanian legislators who continue to face some of the most important elements in the fight against organized crime. The government is…
Belize | Following our previous communication related to Economic Substance in Belize, we remind you that all IBCs must report their status in this regime on an annual basis through their Registered…
BVI economic substance requirements | Knowing the interests of our clients and friends and the importance of this topic, we bring you this webinar about the BVI jurisdiction, its advantages,…
Belize economic substance | The economic substance Act, 2019 (ES Act) in Belize was enacted on October 12, 2019, and came into force on January 1, 2019. This act applies to legal…
The Beneficial Ownership Act, 2020 (“BO Act”) came into force on 28 August 2020 along with the Beneficial Ownership Regulations (“BO Regulations”) imposing new requirements on Seychelles Legal Persons and Legal Arrangements (“Entities”).
The International Tax Co-operation (Economic Substance) Law (as Revised) (the “Law”) came into force on 1 January 2019 and introduces certain reporting and economic substance requirements for Relevant Entities carrying on Relevant Activities.…
BVI economic substance legislation is the topic you should know |The British Virgin Islands (BVI) passed economic substance legislation requiring legal entities performing relevant activities to demonstrate adequate economic substance…
Barbados economic substance | Barbados enacted the Companies (Economic Substance) Act, 2019-43 (CES Act) on November 27, 2019. This law was enacted in response to the requirements of the Organization…
Bahamas economic substance | The Bahamas Ministry of Finance has granted an extension on the deadline to file the 2019 economic substance report (from December 31st, 2020) to January 31st, 2021 for…
Corporations in Panama | OMC Group is a company with more than 65 years of experience in the Corporate Services industry. If there is something we can assure is that…
BVI Company. BVI Economic substance frequent questions (FAQ) 1. Could my BVI company be conducting “banking business”? 1. Is the company subject to any banking regulations or supervision anywhere? If…
E-signatures are electronic digital signatures that can be used to securely sign documents electronically. A digital signature is a mathematical way of proving that the person signing a document is…
BVI Economic Substance
accounting records bvi
Company registration in Panama | Law No. 129, which deals with the "Private and unique system of company registration in Panama of final beneficiaries of legal entities" Was approved in…