Local News
SIGTAS 3.0 Tax Administration System to Go Live by End of September
Premier and Minister of Finance, Honourable Dr. Natalio Wheatley, has announced that the Standard Integrated Government Tax Administration System (SIGTAS 3.0) is set to go live by the end of September. Premier Wheatley made the announcement during a statement at the House of Assembly on September 7, highlighting the significance of this milestone for the tax administration system in the British Virgin Islands (BVI).
The upgrade to SIGTAS 3.0 represents a major step forward for the BVI, as it introduces a state-of-the-art platform designed to enhance tax administration efficiency, effectiveness, and overall service quality for taxpayers. Premier Wheatley emphasized that the new system will also provide greater accessibility and flexibility for online payments through the Government’s e-payment gateway.
Among the key enhancements and benefits of the new system is an improved user interface and navigation, making it easier for users to perform various tasks. The integration of online services will enable clients to register, file, pay, and communicate with the Department of Inland Revenue electronically, saving time and simplifying the tax payment process.
Additionally, the new system ensures enhanced security and data protection, conforming to international standards, as well as increased automation, integration, and expanded functionality. These features allow for customization and configuration options tailored to the specific needs and preferences of the BVI tax system.
Premier Wheatley emphasized that the web-based nature of the system enables clients to access it from any device with an internet connection, such as laptops, tablets, or smartphones. The improved reporting and analytics capabilities will generate more accurate and timely reports and statistics on tax performance and compliance.
Several phases of the project have already been completed, including application deployment, technical upgrade, and the delivery of e-tax services such as registration, tax filing, and payment. The final phases will involve training and support for end users, as well as the official launch and ongoing operation of the system. The Inland Revenue Department is currently in the final stages of testing financial statements, payroll, and opening balances modules, which will complete the full suite of services for modernizing the tax payment process.
SIGTAS is a widely used software solution for tax administration, utilized by over 30 countries worldwide, including the BVI. SIGTAS 3.0 is the latest version of the system, offering new features and enhancements for both tax authorities and taxpayers.
Premier Wheatley urged all relevant individuals and organizations to register, as new unique Tax Identifier Numbers (TIN) are being assigned, which are necessary for the full launch of the system. To facilitate the registration process, the Central Government has deployed a team of experts at the Inland Revenue Department to assist taxpayers. Registration requires a valid passport or driver’s license, Social Security card, and an email address. Online registration is also available at http://www.eregisterfortax.gov.vg.
The Government of the Virgin Islands remains committed to the overall development of the territory through sustainable transformation and the continuous improvement of the tax system.
Entertainment
Thirteen Restaurants to Serve Up Lobster Delights at Anegada Lobster Festival 2024
Local News
British Virgin Islands Financial Services Commission Welcomes New Leadership
The British Virgin Islands Financial Services Commission (BVIFSC) has announced new appointments to its governing board, with Mr. Gerard St Clair Farara KC stepping in as Chairman and Ms. Patlian Johnson as Commissioner. The appointments, confirmed by the Ministry of Financial Services, Labour, and Trade, mark a new chapter for the commission as it seeks to strengthen the territory’s financial services sector.
Mr. Gerard St Clair Farara KC has been appointed to a three-year term as Chairman, effective August 1, 2024. A seasoned legal expert with a distinguished career, Farara currently serves as a Commercial Court Judge for the Eastern Caribbean Supreme Court and leads the litigation team at the BVI office of COLLAS CRILL, formerly Farara Kerins. Farara’s prominence in the legal community is further highlighted by his appointment as Queen’s Counsel in 1996, cementing his standing as a leading figure in the Virgin Islands Bar and the broader Eastern Caribbean.
Ms. Patlian Johnson will serve a one-year term as Commissioner, also beginning on August 1, 2024. Johnson, a Strategy and Policy Advisor with extensive experience, currently holds the position of National Coordinator for the UNDP Project Office. She brings an impressive academic background, including a Master of Science in Economics and Finance from the University of Bristol and a Bachelor of Science in Economics and Accounting with First Class Honours from the University of the West Indies, Cave Hill Campus.
The pair will replace outgoing Chairman Mr. Robin F. Gaul and Commissioner Mr. Melvin A. Turnbull, whose terms have concluded. Minister of Financial Services, Labour, and Trade, Honourable Lorna G. Smith, OBE (AL), praised the new appointments, stating, “I am delighted to welcome Mr. Farara and Ms. Johnson to the BVIFSC Board of Commissioners. Their combined expertise will be invaluable as we continue to navigate the challenges and opportunities facing the financial services sector.”
Smith also expressed gratitude to the departing board members for their significant contributions to the growth and stability of the territory’s financial services industry. According to the Government Information Service (GIS), these appointments underscore the Virgin Islands’ commitment to maintaining a well-regulated and competitive financial services sector.
Education
School Closure on Anegada as Power Outage Disrupts Island
-
Local News2 weeks ago
Search Underway After Vessel Capsizes Off Jost Van Dyke, One Dead, One Missing
-
Local News2 weeks ago
Oil Spill Forces Temporary Road Closure in Fish Bay
-
Local News1 week ago
Thirty-Six Naturalized as British Citizens in Ceremony at Government House
-
Education2 weeks ago
Eighty Virgin Islands Public Officers Complete Customer Service Training
-
Elections 20232 weeks ago
Virgin Islands Releases 2024 Preliminary Voters List for Public Review
-
Local News2 weeks ago
British Virgin Islands Premier Leads Delegation to London for Key Talks on Governance, Finance, and Climate Change
-
Local News1 week ago
Major Road Rehabilitation Projects Underway
-
Business2 weeks ago
Xmas in July Donates £6,000 to Support Marine Conservation in the BVI