Guidance notes from the International Tax Authority
From the document:
These Guidance Notes are issued by the International Tax Authority with respect to the Agreements and are intended to provide practical assistance to entities, their directors and other officers, their advisers and the International Tax Authority. However, this document does not form part of the BVI Regulations and does not have the force of law. If you are in any doubt as to your obligations under the BVI Regulations you should seek professional advice.
A Financial Institution must apply the BVI Regulations in force at the time with reference to these Guidance Notes.
Where the BVI Regulations are considered to be sufficiently clear certain issues may not be covered in these Guidance Notes. Where topics are covered, these Guidance Notes are not exhaustive but do seek to convey principles which can be applied to various situations and circumstances.
These Guidance Notes are relevant and apply to any person affected by the Agreements and the BVI Regulations.