On 25 May 2020, the BVI Financial Services Commission (FSC) issued a notice, announcing that Class A licensees pursuant to the Financing and Money Services Act, 2009, are required to submit the collected transaction levy to the FSC on a quarterly basis.

Class A licensees must proceed with the payment of transaction levy within 15 days after the end of each calendar quarter, along with a transaction levy report. Further details on the transaction levy payment guidance can be found here.

A copy of the Notice can be found here.

FSC’s press release can be found here.