UPDATE ON VIRRGIN ECONOMIC SUBSTANCE PLATFORM (2026-07-13)

Summary

This is a press release from the BVI International Tax Authority (ITA) providing an update on technical problems with the Economic Substance bulk filing function in the VIRRGIN system. It confirms that system improvements have been made and extends the filing period, until further notice, for Economic Substance Declarations with financial periods ending in June 2025 and December 2025 that Registered Agents were previously unable to submit due to bulk filing errors.

• Filing channel: All affected outstanding declarations must now be submitted using the Bulk Filing option in VIRRGIN; the Single Filing option is temporarily disabled until the ITA determines most outstanding declarations have been successfully bulk filed.
• Template rules: Registered Agents must use the unmodified template downloaded directly from VIRRGIN, keep field formats (Text/Date) unchanged, use only the provided drop-down list values, verify financial period start and end dates, keep instruction and header rows intact (processing starts at Row 5), and download a fresh template for each new submission.
• Financial period corrections: Where a financial period was affected by the migration from BOSS to VIRRGIN, Registered Agents should contact the ITA to have the period reviewed and corrected before submitting the declaration.
• Combined filings: Registered Agents may include both 2025 and 2026 financial period declarations in the same bulk filing template, provided all required information is accurate.
• Support: Agents still experiencing issues should contact the ITA with the Batch Number and a description of the problem; further guidance is available in the Meeting the Regulator (MTR) presentation on the ITA website.

The notice is procedural and operational in nature, aimed at resolving a specific system issue rather than changing substantive Economic Substance obligations under the law.

Key obligations

• Submit all affected outstanding Economic Substance Declarations (financial periods ending June 2025 and December 2025) using the Bulk Filing option in VIRRGIN, as the Single Filing option is temporarily disabled.
• Use only the unmodified bulk filing template downloaded directly from VIRRGIN, without altering column headings, worksheet names, formulas, or formatting.
• Keep designated Text and Date fields in their original format and avoid converting them to other formats.
• Select values only from provided drop-down lists (e.g. Country) rather than manually entering them.
• Verify that Financial Period Start Date and Financial Period End Date are correct before submitting.
• Do not delete the instruction or header rows in the template, as processing begins at Row 5.
• Download a new copy of the bulk filing template from VIRRGIN before preparing each submission.
• Contact the ITA to review and correct any financial period affected by the BOSS to VIRRGIN migration before submitting the declaration.
• When reporting unresolved issues, provide the Batch Number together with a description of the issue to the ITA.

Applies to

Registered Agents, BVI Financial Institutions

Deadlines

• until further notice: Extended filing period for outstanding Economic Substance Declarations with financial periods ending in June 2025 and December 2025, to allow submission via the Bulk Filing option.